New US claims for jobless benefits barely rose last week and manufacturing activity in the country's Mid-Atlantic region touched a near one-year high in November. The figures were seen as more evidence that the US economy was regaining momentum.
The improving economic picture also was enhanced by another report showing that a gauge of future activity increased 0.5% in October.
Initial claims for state unemployment benefits climbed 2,000 to a seasonally adjusted 439,000, the Labor Department said. But the four-week average, considered a better measure of underlying labour market trends, fell to a fresh two-year low. Economists had forecast a bigger rise.
In a separate report, the Philadelphia Federal Reserve Bank said its business activity index soared to 22.5 this month - the highest since December - from 1.0 in October. The rise beat market expectations for 5.0. Any reading above zero indicates expansion in the region's manufacturing.
