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2021-12-24 11:22:03

Markets continued to storm highs

At the end of last week, the capitalization of the S&P 500 increased by 0.3%, while the Nasdaq 100 rose by 2.3% and ended the week at historic highs. Investors continued to evaluate the companies’ reports for the third quarter, as well as a new portion of statistical data. The number of Americans who applied for unemployment benefits for the first time last week fell by 1,000 to 268,000, according to a report from the US Department of Labor. This is the lowest level since March 2020. A week earlier, the number of requests was 269 thousand, and not 267 thousand, as previously reported. Analysts polled by Bloomberg, on average, expected the number of applications to decrease to 260 thousand from the previously announced level of the previous week.

US Treasury Secretary Janet Yellen warned Congress that her department could run out of money after December 15, if lawmakers do not raise the national debt ceiling. She clearly indicated that this deadline is directly related to the new obligations that the Treasury has arisen after the adoption of the bill on infrastructure spending in the United States. Meanwhile, the head of the Federal Reserve Bank (FRB) of Chicago, Charles Evans, said that inflation in the United States was more stable than expected.

Homes under construction in the United States in October fell 0.7% month-on-month to 1.52 million at an annualized rate, the country’s Commerce Department said Wednesday. According to the revised data, in September the number of new buildings was 1.53 million, and not 1.555 million, as previously announced. Experts predicted an increase in the number of new buildings compared to the previously announced level of the previous month – up to 1.576 million, according to Trading Economics.

On Monday, statistics on the dynamics of sales in the secondary housing market for October will be published. Markit’s preliminary US and Eurozone manufacturing PMIs are due on Tuesday. On Wednesday, the minutes of the November meeting of the FRS will be published, as well as a number of macroeconomic indicators will be published: GDP estimate for the 3rd quarter, preliminary data on durable goods orders for October, household spending and income, updated consumer sentiment index from the University of Michigan for November and sales new buildings in October. The stock and bond markets will be closed on Thursday for Thanksgiving.

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