Jobless Claims Higher Than Anticipated


The Senate approved a short-term spending bill yesterday to avert a government shutdown after the House passed a continuing resolution on Tuesday.

Jobless claims in the week ended November 11 were 231,000 when 222,000 were expected.

The November Philadelphia Federal Reserve manufacturing index was -5.9 when -11.0 was anticipated.

Industrial production in October was down 0.6% when down 0.3% was estimated in capacity utilization was 78.9%, which compares to the forecast of 79.4%.

The 9:00 central time November housing market index is expected to be 40.

The November Kansas City Federal Reserve manufacturing index will be released at 10:00. In October it was -8.0.

The technical aspects have become much more supportive to stock index futures this week, especially after on Tuesday the S&P 500 futures broke out above a triple top formation on the daily chart.


The U.S. dollar was slightly higher in the overnight trade but came under pressure when the larger than estimated jobless claims report was released.

Severe technical damage was done to the greenback earlier this week when major trendlines were penetrated on the downside.

Exports from Japan increased by 1.6% year-over-year in October 2023, expanding for the second consecutive month, beating market forecasts of a 1.2% gain.

Australia’s labor market increased more than expected in October as the labor participation rate returned to record highs. The total number of employed people grew by 55,000 in October, which was substantially higher than expectations for an increase of 20,000 people, and accelerated sharply from the 6,700 gain in September.


Futures firmed when the larger than predicted jobless claims report was released.

Federal Reserve speakers today are Christopher Waller at 9:30, Michael Barr at 9:35, Loretta Mester at 11:00 and Lisa Cook at 11:00.

Despite recent hawkish comments from Federal Reserve officials, there is a growing consensus that the Federal Reserve has concluded its rate hiking cycle.

Financial futures markets are predicting there is almost a 100% probability that the Federal Open Market Committee will keep its fed funds rate unchanged at its December 13 policy meeting. On Monday there was a 14% probability of a 25 basis point hike.


Interested in more futures markets?  Explore our Market Dashboards here.

Risk Warning: Investments in Equities, Contracts for Difference (CFDs) in any instrument, Futures, Options, Derivatives and Foreign Exchange can fluctuate in value. Investors should therefore be aware that they may not realise the initial amount invested and may incur additional liabilities. These investments may be subject to above average financial risk of loss. Investors should consider their financial circumstances, investment experience and if it is appropriate to invest. If necessary, seek independent financial advice.

ADM Investor Services International Limited, registered in England No. 2547805, is authorised and regulated by the Financial Conduct Authority [FRN 148474] and is a member of the London Stock Exchange. Registered office: 3rd Floor, The Minster Building, 21 Mincing Lane, London EC3R 7AG.                  

A subsidiary of Archer Daniels Midland Company.

© 2021 ADM Investor Services International Limited.

Futures and options trading involve significant risk of loss and may not be suitable for everyone.  Therefore, carefully consider whether such trading is suitable for you in light of your financial condition.  The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM.  The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared.  The information provided is designed to assist in your analysis and evaluation of the futures and options markets.  However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.

Latest News & Market Commentary

Explore the latest edition of The Ghost in the Machine

Explore Now