Yesterday’s horrific act of barbarism is a not-so-subtle reminder about life, death and freedom. The slaughter of 12 people over satire is anathema to what Americans believe in, and yet, it is more of a reality around the world.

I was happy to see the Cotation Assistée en Continu (CAC 40) index of France’s blue chip stocks hold onto gains, even as the news and body count made the rounds. It is not about money, it is about fear, and a knee-jerk sell-off would have been a victory for those animals.

We knew this was inevitable, and we know it will continue. On November 16^th of last year, ISIS released a video showing the killing of 18 Syrian captives and American aid worker Peter Kassig. Part of the group that beheaded the men was 22-year-old Maxime Hauchard, a French citizen who converted to Islam when he was 17.

The presence of westerners joining ISIS gives the terrorist organization tentacles all over the world as these fighters return home.

 In effect, what might have been a local war only a decade ago could be considered a new world war.

In our minds, we have braced for ugly terrorist incidents, but nothing prepared humanity for the barbarism in Paris where 12 people were cut down with assault rifles.

I can only hope these latest acts of terror will remove opposition from politicians and organizations who still feel sympathy for those with no regard for our lives, other than being a notch on their sword sheath.

Today’s Session

Initial jobless claims fell by 4,000 in the week ended January 3^rd to 294,000, slightly above the consensus estimate of 290,000, but significantly lower than the 298,000 reading observed in the prior week. At 290,500, the 4-week average is approximately 10,000 lower than the month-ago comparison. This indicates that the labor market is continuing to experience general improvement. Continuing claims, which lag by a week, rose to 2.452 million, allowing the 4-week average to drop by 17,000 to 2.397 million. Since late November, the continuing claims average has fallen around the 2.4 million-range. Also, the unemployment rate for insured workers held steady at 1.8%. All in all, this report indicates that we should have a positive reading for tomorrow’s employment situation report.