Jobless Claims Fall to 803,000

The stock market is up again this morning, and the S&P 500 is back above 3,700. Today is a particularly good day for cyclical stocks. Many energy stocks are doing well as are many banks. At the other end, many tech stocks are lagging the market.

On our Buy List, Check Point Software (CHKP) has been quite strong lately. I suppose that a massive government hack is good for business. Over Friday, Monday and Tuesday, the shares gained more than 11%.

We also had some good news, finally, from the weekly jobless claims report. The number of Americans filing claims fell to 803,000. Economists had been expecting 888,000. The number for last week’s report was revised higher by 7,000 to 892,000.

President Trump said that he wants Congress to revise the stimulus bill it just passed. The president said he wants to see larger checks and less wasteful items. This news blind-sided official Washington. If the president refuses to sign the bill, the government will shut down on December 29.

Posted by on December 23rd, 2020 at 10:29 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.