U.S. jobless claims fall to 346K; consumer income, spending up; pending home sales jump to highest since Dec. '06


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Fox Biz continues to send me email alerts that I feel compelled to share with you... because they prove that President Obama is the worst. Socialist. Ever:

U.S. weekly jobless claims fell to 346,000 from an upwardly revised 355,00 the week prior. Claims were expected to fall to 345,000 from an initially reported 354,000.

Consumer spending rose 0.3% in May from April, matching economists’ estimates. Personal income climbed 0.5%, more than the 0.2% Wall Street expected.

The National Association of Realtors reports signed contracts to buy previously owned homes jumped 6.7% in May, far higher than the 1% increase expected. The increase brought pending home sales to the highest since December of 2006. The gauge was up 12.1% from the same month in the year prior.

Traders are bidding equities sharply higher for the third day in a row as caution over the Federal Reserve’s exit from its bond-buying program ebbs. The Dow is up 100 points, or 0.67%, while the broader S&P 500 is up 0.61%.