Dow scores second record close in a row on lower-rate bets

U.S. stocks ended firmer on Thursday, with the Dow Jones Industrial Average notching its second straight record high close, lifted by optimism that borrowing rates will decrease next year following a dovish pivot by the Federal Reserve.

- $Adobe (ADBE.US)$ slides after downbeat FY revenue forecast
- $Apple (AAPL.US)$ notches record intra-day high
- Indexes: $S&P 500 Index (.SPX.US)$ +0.26%, $Nasdaq Composite Index (.IXIC.US)$ +0.19%, $Dow Jones Industrial Average (.DJI.US)$ +0.43%

Dow scores second record close in a row on lower-rate bets

Economic data | Initial Jobless Claims

Prior week 220K revised to 221K
Initial jobless claims 202K vs 220K estimate. Lowest since October 13 week.
4-week moving average of initial jobless claims 213.25K vs 221.00K last week.
Continuing claims 1.876M vs 1.887M estimate. Last week 1.861M revised to 1.856M
4-week moving average of continuing claims 1.8745M vs 1.871M
The largest increases in initial claims for the week ending December 2 were in California (+13,478), New York (+9,073), Texas (+8,321), Georgia (+6,728), and Oregon (+5,406),
The largest decreases were in Kansas (-893), Vermont (-14), and Delaware (-14).

Ups and downs continue in the jobless claims. With the Christmas shopping season better this year, perhaps this is a catch up by retailers (and such) to match the demand. If you work, that is good. $SPDR S&P 500 ETF (SPY.US)$ $Invesco QQQ Trust (QQQ.US)$

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efficentupup

True and timely

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