If the Fed was looking for an excuse to cut 50 basis...

If the Fed was looking for an excuse to cut 50 basis points it found one as Unemployment Insurance Weekly Claims soared. BEA 4th Quarter GDP 1st Estimate 0.7% Q&A: Why Did GDPNow Rise After Durable Goods? When are Construction Revisions Coming? In the week ending Nov. 24, the advance figure for seasonally adjusted initial claims was 352,000, an increase of 23,000 from the previous week's revised figure of 329,000. The 4-week moving average was 335,250, an increase of 5,750 from the previous week's revised average of 329,500. The advance seasonally adjusted insured unemployment rate was 2.0 percent for the week ending Nov. 17, an increase of 0.1 percentage point from the prior week's unrevised rate of 1.9 percent. The advance number for seasonally adjusted insured unemployment during the week ending Nov. 17 was 2,665,000, an increase of 112,000 from the preceding week's revised level of 2,553,000. The 4-week moving average was 2,589,250, an increase of 20,500 from the preceding week's revised average of 2,568,750. The only debate now is how much the Fed cuts in December. If the next monthly jobs report is miserable and weekly claims remain elevated, the Fed is likely to cut 50 basis points. The content on this site is provided as general information only and should not be taken as investment advice. All site content, including advertisements, shall not be construed as a recommendation to buy or sell any security or financial instrument, or to participate in any particular trading or investment strategy. The ideas expressed on this site are solely the opinions of the author(s) and do not necessarily represent the opinions of sponsors or firms affiliated with the author(s). The author may or may not have a position in any company or advertiser referenced above. Any action that you take as a result of information, analysis, or advertisement on this site is ultimately your responsibility. Consult your investment adviser before making any investment decisions.