Stocks are lower after weak jobs data and as the dollar continues to rise against the euro
Stock are lower this morning after an unexpected rise in new jobless claims suggested continued labor market weakness.
The Labor Department said that the number of new claims for unemployment benefits rose to 480,000 last week, up 7,000 from the previous week.
Markets in Europe and Asia also slipped as the dollar rose against the euro on speculation the Federal Reserve might increase rates sooner than expected.
Stocks are higher on positive economic data ahead of Fed decision
Stocks are rising in early trading following a benign reading on consumer inflation and a rebound in housing starts last month.
Consumer prices excluding food and energy were flat in November, signaling that inflation isn’t rising through the economy. It was the first time that “core” inflation was unchanged after 10 monthly increases.
Meanwhile the Commerce Department said construction of new homes and apartments rose 8.9 percent last month.
DALLAS, Dec. 15 /PRNewswire-FirstCall/ — Morgan Creek Energy Corp. (the “Company”) (“Morgan Creek”) (OTC Bulletin Board: MCKE; M6C1-Frankfurt) plans to spud the first well, known as the Nowlin #1-19 well, on the North Fork 3-D Prospect in Beaver County, Oklahoma during the week of January 17, 2010.
According to an Amended Agreement signed on December 1, 2009 between Morgan Creek and Bonanza Resources (“Bonanza”), Morgan Creek has an option to acquire a 70% working interest in Bonanza’s 85% working interest (a 59.50% net working interest) in the Prospect, up to October 28, 2010.