Quick Overview

• U.S. jobless claims fell 21,000 last week to 509,000,
  
• U.S. factory orders dropped 5.1% in October.
  

• The European Central Bank reduced its interest rate from 3.25% to 2.50%,
  

• Australia reduced its interest rate from 6.5% to 5.0
  

• Britain reduced its interest rate from 3.00% to 2.00%,
  

• Sweden reduced its interest from 3.75% to 2.00%.
  

• GDP in the Euro area fell 0.2% QoQ, but up rose 0.6% YoY.
  

• (WSJ) Harvard University's endowment has investment losses of 22%, or about $8 billion, since the end of the school's fiscal year.
  

• Bernanke called on government to ramp up efforts to stem home foreclosures.