And we’re not just stalling out. We’re getting worse, as initial jobless claims spike to 484K. 450K would be nice at this point.
After some early improvement, stocks are now looking for another big downward move.
The NASDAQ is off about 1%.
Background: By now you know that the crucial fact about this number is that not only has it been stuck around 450K initial claims, lately it’s been trending back towards 500K initial. This time analysts are looking for 465K.
The stall-out basically looks like this, although this particular chart doesn’t capture the recent uptick.
Photo: Calcualted Risk
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