Latest Market Updates
Data released earlier in the session revealed the U.S. economy grew faster than initially estimated in the third quarter, according to the Commerce Department. Gross domestic product grew at a 3.6 percent annual rate, blowing past analysts’ expectations for growth of 3.0 percent.
The rate of third-quarter growth was the fastest since the first quarter of 2012 and marked an acceleration from the April-June period's 2.5 percent rate; however, “economists expect slower growth in the final months of the year,” according to Reuters.
Thursday data also revealed unemployment benefits fell by 23,000 to 298,000. The decline marked the lowest level of claims in more than two months
Meanwhile, markets are monitoring details from the European Central Bank’s monthly policy meeting, followed by a press conference with ECB president Mario Draghi. The ECB meeting concluded with no change in interest rates, and no major policy decisions were expected after last month’s meeting, in which the ECB cut its main interest rate to a record low.
Arguably, this week’s most important event is the release of the November jobs number, which is due Friday. The government is expected to report on Friday that nonfarm payrolls increased 180,000 last month, while the unemployment rate is projected to decline to 7.2 percent from 7.3 percent, according to a Reuters survey of economists.
The recent string of upbeat economic data released over the last several weeks has stirred fears among investors that a tapering by the Federal Reserve could come sooner rather than later.
“The economic data and jobless claims are another indication that the U.S. is on the right track,” Phil Streible, a senior commodity broker at R.J. O’Brien & Associates, told Bloomberg in an interview. “Tapering is clearly becoming a possibility.”
View Market Data
Read the latest market viewpoint commentary from Merit's very own Executive Vice President, Mike Getlin.View Market Data
Sign up for insightful market viewpoints from Mike Getlin, Executive Vice President.
Market Updates Archive
Merit Gold News Network
Markets are reeling in response to today’s batch of stronger than expected domestic economic data, with stocks falling for a fifth day in a row and gold prices posting about a percent and a half loss by the close of trading, all on rekindled bets that the F...watch more
Gold Standard with Brian Baker
On today's show: Check out our latest interview with Mike Getlin, EVP of Merit. Brian & Mike discuss this week's erratic market, the upcoming Fed meeting, recent upbeat economic data, and even Bitcoin!watch more
For a quarter of century, Merit is a trusted financial partner for thousands of
investors of gold and precious metals
Widely recognized as an honest,
responsible and highly ethical institution,
Merit has a perfect rating
Each year more investors, financial
planners and collectors become part of our
community of highly satisfied customers
Nearly 50,000 men and women in the armed forces have been injured in the wars of Iraq and Afghanistan. To support those who have risked their lives for their country, Merit has developed the Wounded Warrior Project. This program provides unique, direct assi...read more