Pre-open:
WASHINGTON (MarketWatch) -- U.S. weekly initial jobless claims rose by 4,000 to 372,000 in the week ending May 24, the Labor Department reported Thursday. The four-week average of initial claims, which measures the underlying trend of claims, fell by 2,500 to 370,500. Continuing claims rose by 36,000 in the week ending May 17, to 3.10 million. The four-week average of continuing claims rose by 18,500 to 3.06 million. Continuing claims are at their highest level since February 2004
This does not bode well for the jobs report next week. Nevertheless, bonds are selling due to the trade deficit drop, but the writing is on the wall. Watch that 1390 level for SPX when cash opens.
WASHINGTON (MarketWatch) -- U.S. weekly initial jobless claims rose by 4,000 to 372,000 in the week ending May 24, the Labor Department reported Thursday. The four-week average of initial claims, which measures the underlying trend of claims, fell by 2,500 to 370,500. Continuing claims rose by 36,000 in the week ending May 17, to 3.10 million. The four-week average of continuing claims rose by 18,500 to 3.06 million. Continuing claims are at their highest level since February 2004
This does not bode well for the jobs report next week. Nevertheless, bonds are selling due to the trade deficit drop, but the writing is on the wall. Watch that 1390 level for SPX when cash opens.
This entry was posted
on Thursday, May 29, 2008 at 5/29/2008 08:43:00 AM.
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