Initial jobless claims totaled 198K for the week ending December 25. That was below the 205K forecast and near the lowest level since 1969.

A recent analysis shows low- and middle-income households spent an average of $3,500 more in 2021 for the same products bought in 2020 or 2019.

U.S. manufacturing, which accounts for 12% of the national economy, grew to a 3-year high in November.


Sales of previously owned homes rose 1.9% in November. The increase was likely due to a strengthening job market and concerns over rising rates.

Home prices surged again in October, up 18.4%. The housing market continues to boom in the wake of last year’s coronavirus recession.

Mortgage refi apps were up 2% last week, though they were 42% lower than last year. Purchase apps fell 3% for the week.