ANOTHER GOOD JOBLESS CLAIMS NUMBER

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Update:

Good news.

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.

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