Today is the last trading day before the Thanksgiving day, so it is crowded with economic data. The first time to apply unemployment benefit plunge sharply to 407 K from 441 K the week before last week, a multi-year low. The michigan sentiment also picked up in November to 71.6 from 69.3. However, the durable goods order dropped sharply in October with -3.3% month over month growth. Without transportation, the durable goods order dropped 2.7%. And without defense and aircrafts, the durable order plunged as deep as 4.5%. Considering the data of durable goods order is leading indicator of the manufacturing, I would not be optimism for the U.S. economy in the coming December. Also headline news today is the new home sale in October drooped 8%.
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