US DATA: Initial jobless claims +35k to 445k in Jan. 8 wk, far
above expectations of 406k. Seasonal factors had expected large rise in
NSA claims; 22.7%, or 131,000, because prior 2 wks had Federal holidays
and 2nd wk of Jan always the highest wk for NSA claims. Actual NSA
claims +33%, or +191,686, to 770,413. Issue is ‘timing’ not magnitude,
analyst says. The 4-wk moving avg +5,500 to 416,500. Cont. claims -248k
to 3.879m in Jan. 1 wk; lowest since Oct 25, 2008.
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US DATA: Dec PPI +1.1% above expectns of +0.9%, core +0.2%
(+0.28785% unrounded) for +4.0% YOY overall, +1.3% YOY core. Driving
rise in overall was finished energy prices (+3.7%); within that gasoline
+6.4%. Finished consumer foods +0.8%. Rise in PPI core fueled by
cigarettes (+2.9%). Ex-energy, overall PPI +0.3%.