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Pre-Market Primer: Stocks Rise on Fiscal Cliff Optimism
MINYANVILLE ORIGINAL Hopes that US lawmakers will reach an agreement on budgets sent stocks to a three-week high today. Initial claims for unemployment insurance which were especially high for the two weeks prior due to Hurricane Sandy fell to 393 000 last week from the previous week's upwardly-revised 416 000. Economists expected 3 000 fewer claims. The Federal Reserve confirmed that the US economy grew by 2.7% last quarter. Though this was 0.1% less than expected this figure came in line with expectations. Later this morning the government will release pending home sales data for October. Economists expect the ...
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