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1. The Long and the Short of It
By Mark Haefele
8:17 a.m. EDT
2. Data, Phils
By Robert Marcin
8:44 a.m. EDT The GDP number was decent, but it's backward-looking and subject to revision. Fourth-quarter GDP will be much more important to the market from here than the third quarter was. The continuing claims show improvement, but that is solely due to expiration of benefits. When you add the supplemental programs, the unemployed are as high as ever. The initial claims number is disturbingly high, considering the lack of jobs availability. The Phils did it with their ace and power. The Yanks are formidable, but I think the Phils can take 'em. No positions.