If investors were looking for a reason to be optimistic, then perhaps today’s slow rise in jobless claims is the catalyst everyone was looking for. Jobless claims crept higher by just 4,000, to an annualized rate of 367,000, slightly below economists’ forecast of 370,000. Fewer claims could signal that more jobs are being created, which would be a positive for the economy.
Record low mortgage rates of 3.36% are another positive sign for the markets, as the Mortgage Brokers Association signaled that refinancings are at a three-year high this week. Low rates could be the impetus that spurs prospective homebuyers who are waiting on the sidelines to purchase a home.
On the day, the broad-market S&P 500
Coal stocks took to the stage today, with Alpha Natural Resources
Transportation and supply chain management solutions company Ryder System
There was no true disaster du jour today, but Avery Dennison
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Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong.
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