Initial jobless claims came in at 390K, which is once again an improvement.
Last week was revised slightly higher to 400K, but the bottom line is that this continues a trend of week-in/week-out improvement.
Given how well this high-frequency data matches up with markets over time, this is obviously bullish.
Original post: The biggest economic datapoint of the day.
Initial claims is coming out at 8:30 AM ET, and analysts expect 400K, up slightly from last week’s 397K.
Anything in that vcinity probably won’t mean very much.