The U.S. equity markets are moving higher in early action after being closed yesterday for the Christmas holiday, aided by a larger-than-expected drop in domestic initial jobless claims. Treasuries are moving modestly lower following the data. However, volume will likely remain light, with markets in Europe, Canada, Australia, and Hong Kong remaining closed for holidays. In light equity news, United Parcel Service Inc announced late Tuesday that the volume of air packages in its system exceeded capacity as demand was much greater that it had forecasted, resulting in a small percentage of shipments that were delayed and were not delivered on time for Christmas. Gold is higher, while the U.S. dollar is lower and crude oil prices are mixed. Overseas, Japanese stocks closed at a six-year high as the yen weakened to help export-related issues, while Chinese stocks shrugged off a GDP growth forecast that was above the nation's target, as liquidity concerns continued to fester.
Source: Schwab
Source: Schwab
