Jobless Claims Heading Wrong Direction
The Labor Department is out with its report on weekly jobless claims. Today’s report came to 372,000 and that was a gain of 4,000 after last week’s report was revised higher to 368,000 from a preliminary report of 366,000. Bloomberg and Dow Jones were both calling for a consensus of 365,000. While this was not much different and is not likely to move the markets much, this is a trend higher and a trend that is heading in the wrong direction.
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