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The Labour Department says first-time claims for jobless aid fell by 17,000 to a seasonally-adjusted 421,000 in the week ending Dec. 4. Wall Street analysts had expected a smaller decline.
In the midst of the economic downturn, a lot of people turned to cash to keep their money safe, but having no foothold in the market at all means they missed out when it rebounded.
(Kitco News) -- Despite the rallies seen in many metals prices lately, Ed Meir, analyst, MF Global says he would not be surprised to see a “modest” price-pullback sometime over the next two weeks as the financial markets return to normal after the holidays. “Investors may take stock of the 2011 landscape and may not necessarily like what they see,” he says. The macroeconomic picture globally is better than two years ago, but there are “trouble spots” ahead, particularly with rising commodity prices contributing to rising inflation in emerging markets, especially in Asia. Governments there are trying to rein in inflation, but in China’s case, he said, it appears authorities are “behind the curve.” Nominal interest rates are barely above the official inflation reading, but the food inflation index is nearly 12%. “The commodity spiral, if left unchecked, will trigger possible demand destruction, lead to commodity substitution where applicable, and generate a more aggressive supply-side response, factors that admittedly thus far, do not seem to be registering with investors,” Meir says.