In economic news Thursday, a busy morning so far. We’ve already had released, at 8:30AM ET: International Trade report, the Producer Price Index and Jobless Claims. International trade – the US trade deficit shrank in November to .3 billion dollars, down from the revised number of .4 billion in October. Economists were expecting a billion dollar trade deficit. The better than expected results are attributed mostly to nonpetroleum goods, while services widened the gap. The Producer Price Index report showed inflation higher than expected. Economists were expecting a consensus of 0.9%, the actual number came in at 1.1% for December. And finally jobless claims made a leap in the week of January 8th, yielding the worst results since October. Initial claims numbered at 445000, economists were expecting only 405000 claims for unemployment benefits. The 4-week moving average is up by 5500 to 416000. That number is better than the month ago comparison, by about 10000. Later this morning we will be speaking exclusively with Ameriprise Chief Economist Russell Price on his outlook for 2011. Also later this afternoon, Fed Chairman Ben Bernanke will be speaking at 1 pm ET in Arlington VA. Stay Tuned for Updates.

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