Applications up 5.8% as rates rebound from post-election highs.
Small business optimism spikes on belief that new DC guard will reduce their costs.
This newer indicator, the LMCI, tells us more than monthly unemployment reports.
156k nonfarm jobs added, unemployment 4.7%.
Report by Harvard/Princeton economists says most U.S. employment growth from 2005 to 2015 is in alternative work arrangements.
The sharp drop in refinance applications is due to higher rates. This last week of the year was the only week in which year/year purchase applications were down.
Today’s fundamentals: PMI and ISM manufacturing indices, plus construction spending.
Today’s fundamentals: Chicago PMI
Today’s fundamentals: Latest trade deficit data negatively impacts GDP. Also remember: holiday jobs data are wonky and can obfuscate early 2017 reports.
Today’s fundamentals: Nov pending home sales, and Christmas week chain store sales.