Philly Fed Outlook soars to +39; price index jumps to 42-year high

• November Philly Fed Business Outlook: +39 vs. +24 consensus, +23.8 prior (unrevised).
• Nearly 42% of firms reported increases in activity vs. just 3% that reporting slowing. Nearly 48% of firms reported increases in new orders vs. just 1% reporting slowing.
• The prices paid index jumped 10 points to 80, matching a 42-year high hit this past summer. 82% of firms reported price increases vs. just 2% reporting decreases.