Summary
Stocks were mixed on Thursday morning following new economic data. This week’s initial jobless claims were 187,000, a 16,000 decrease from the prior week’s revised level. This is the lowest level since late September 2022 and short of the expected 208,000. On the housing front, residential building permits issued rose to 1.495 million in December from 1.46 million, above the expected 1.48 million, and up 6.1% from one year ago. Home starts declined to 1.46 million from 1.56 million, but was above the expected 1.43 million reading and 7.6% higher than last year. The Dow fell 0.2%, while the S&P 500 rose 0.2% and the Nasdaq was up 0.8%. Crude oil traded above $744 per barrel, while gold rose $10 to $2016 per ounce.
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