Jobless claims trend hits lowest in nearly 2 years; Philadelphia, New York manufacturing numbers up

Summary

Rick Santelli reviewed the latest U.S. economic data on Squawk Box, including import/export prices, stronger-than-expected Empire State and Philadelphia Fed manufacturing readings, and initial jobless claims at 198,000. Continuing claims were near expectations. He noted a slight rise in interest rates, softer Dow futures, and single-digit odds of a January Fed easing, while markets continued to monitor Fed fallout.

• Import prices rose 0.1% year over year; export prices rose 3.3%.
• Empire State manufacturing came in at 7.7 versus 1 expected.
• Philadelphia Fed manufacturing came in at 12.6 versus a negative expected reading.
• Initial jobless claims were 198,000, near multi-year lows.
• Continuing claims were 1,884,000, close to expectations.
• Interest rates ticked higher as claims stayed well behaved.
• Dow futures were down about 43, described as nothing horrible.
• Beige Book language was slightly to modestly better, and January Fed easing odds remain low.