Quick data rundown on the goods trade deficit, claims, CapEx spend and GDP

With so much data squeezed into the day I’ll be quick here.

The US continues to run a huge goods trade deficit and it was $99.1b in October, though about $4b below expectations and down from $109b in September. Both imports and exports fell m/o/m but from everything I’m hearing and seeing, this will reverse itself in November for both post election as many try to get ahead of any tariffs.

Initial jobless claims were 213k vs 215k last week and about as expected when including the upward revision last week. Continuing claims though is still telling the opposite as it was 1.907mm, the highest since November 2021. Bottom line, the trend of muted firing’s, as measured here (and thus not capturing someone get a gig job if they lose their regular job), and muted hiring’s continues on.