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Midday Market Update

Yellen and Economic Data Headline Market News

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U.S. Markets
U.S. markets opened rather flat Thursday morning, as investors anxiously awaited Federal Reserve chairwoman Janet Yellen’s testimony before the Joint Economic Committee.

Analysts are predicting that an interest-rate hike is bound to occur given further economic data on Thursday that suggest an improving economy. Jobless claims fell significantly in the latest week as claims for state unemployment benefits dropped 19,000 to a seasonally adjusted 235,000--the lowest level since November 1973. Furthermore, the Consumer Price Index rose 0.4% in October. Consumer prices have continued to increase, as individuals are paying more now for goods and services compared with prior years.

Milad Nourmohammadi does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.