Stock market weekly update

Message required Error: Message is invalid. Thank you for your submission. We will be in contact with you shortly. January 10, Quotation from Aenean Pretium Not unexpectedly, claims for unemployment insurance rose during the holiday period of Christmas through New Year's Day. For the week ended January 1, there were , new claims for unemployment insurance, an increase of 7, from the previous week's level, which was revised up by 2, Contact Spencer.

Still, this remained near pre-pandemic levels, and continuing jobless claims improved to their lowest level since Investors also continued to digest a red-hot print on inflation in consumer prices from earlier this week.

This showed another decades-high rate of price increases, one day after Federal Reserve Chair Jerome Powell indicated in his renomination testimony that the central bank would intervene as needed to ease rising prices. Ian Shepherdson, chief economist at Pantheon Macroeconomics, shared a similar view that the rate of price increases could ease starting mid-this year, but CPI may reach 7.

The Labor Department is scheduled to release its latest figures on weekly jobless claims before market open. Consensus economist forecasts indicate new filings for unemployment insurance will tick up slightly from the prior week but gold near pre-pandemic lows.

To close out the week, banks are scheduled to report fourth quarter results on Friday as earnings season kicks off. Dave Inc. More than 4 million shares traded hands intraday on Tuesday, with trading volume soaring by more than 11 times compared to the prior two weeks, according to Bloomberg data. Shares of Ford F extended recent gains on Thursday and reached a year high, with investors cheering to the company's electric-vehicle ambitions.

Recently, Ford said it would be doubling production of its electric pick-up truck the F Lightning, which will begin to be sold this spring. Wholesale prices in the U. Government data Thursday showed a 9. This came following a 9. On a month-over-month basis, advances in the PPI did slow slightly. The broadest measure of PPI rose 0.

Excluding food and energy prices, the core PPI rose more-than-expected on an annual basis, however. This measure of PPI increased 8. Initial unemployment claims unexpectedly jumped to total , last week, but still remained low compared to their pandemic-era averages.

This compared to the , consensus economists were expecting, according to Bloomberg data, and the prior week's unrevised level of , Black Swan Connection Newsletter Signup. Fourth quarter earnings season is about to kick off, and perhaps not a moment too soon.

The sentiment that carried the markets aloft on gossamer wings of optimism — or was that Santa Claus? Meanwhile, technology stocks are sustaining the brunt of investor worries about higher interest rates, and how well the Federal Reserve will execute its pirouette from crisis-era policy toward fighting inflation.

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