Dow rose 88, advancers over decliners better than 4-1 & NAZ went up 49. The MLP index was steady in the 214s & the REIT index advanced 7+ to the 377s. Junk bond funds continued in demand & Treasuries saw more heavy buying, reducing yields. Oil dropped another 3+ to 73 & gold jumped 18 to 1864, another 6 month high.
AMJ (Alerian MLP index fund)
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Massive number of Americans forecasting economic difficulty in new year, poll finds
US job openings posted a surprise increase in Nov despite an aggressive campaign by the Federal Reserve to raise interest rates & cool the labor market. The Labor Dept said that there were 10.5M job openings in Nov. The number of available jobs has topped 10M for 13 consecutive months; before the pandemic began in Feb 2020, the highest on record was 7.7M. The Federal Reserve closely watches these figures as it tries to gauge labor market tightness; the increase in openings could be reason for concern among policymakers as they try to slow the economy & cool painfully high inflation.
Job openings unexpectedly rise in November despite Fed efforts to cool labor market
Mortgage demand plunges 13.2% to end 2022, as interest rates head higher again
Dow Jones Industrials
