After Rallying Yesterday U.S. Stocks Pause; Earnings In Focus

earningsU.S. stock indexes are flat after yesterday’s rally sent stocks up to an eight week high and the dollar higher against a basket of currencies led by stronger than expected labor and inflation data that raised expectations of a December rate hike.

Yesterday the Labor Department reported that initial jobless claims dropped to 255,000, below the 270,000 forecast from briefing.com while  core consumer price index, which strips out food and energy costs, rose 0.2 percent, higher than the 0.1 percent forecast from briefing.com.

Today investors are more cautious about buying stocks following mixed corporate earnings results from GE and Honeywell.

GE reported earnings per share above expectations but revenues fell short.

-John Schweitzer

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