A Mixed Bag for the Holidays

During a very pivotal period for economic growth, the data releases are giving off mixed signals. This week, the DOW crested 30,000 for the first time, new home sales surged (again) and durable goods orders showed solid improvement, but consumer confidence retreated, the trade balance fell, both personal income and spending disappointed and jobless claims moved higher for the second straight week. The unevenness has much to do with lingering political uncertainty and a sharp rise in COVID-19 cases as the holiday season arrives.

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