Daily News 01/29/2015

January 29, 2015

Thursday – January 29

Americans filing for unemployment benefits in the latest week fell to a near 15-year low, signaling that the improving job market is still on track. The Labor Department reported that Weekly Initial Jobless Claims declined by 43,000 to 265,000, well below the 301,000 that was expected. The Department said there were no unusual circumstances surrounding the big drop, but the Martin Luther King Jr. holiday meant there were fewer days for government employees to crunch the numbers.

The National Association of REALTORS® reported that December Pending Home Sales unexpectedly fell by 3.7% from November, but remained above year-over-year levels for the fourth consecutive month. The 3.7% was below the 0.6% gain that was expected as fewer homes available for sales and a slight acceleration in prices likely led to the decline. The northeast saw the biggest drop falling 7.5%. A sale is listed as pending when the contract has been signed, but the transaction has not closed.

On the lighter side, with Super Bowl Sunday this weekend, Americans will host parties at their homes or head out to their favorite watering holes for the festivities. Here are some facts associated with the big day: Party goers are expected to consume 1.25 billion chicken wings, along with 14 billion burgers. It is expected that 7.5 million households will purchase a new television for the big day. Corporations are expected to spend about $359 million on ad time for the game, with each 30-second advertisement costing about $4.5 million. Lastly, it is expected that there will be 25.7 million Tweets sent during the game.