Initial Jobless Claims Of 451,000 Are Way Better Than Expected

Another improvement in the jobs number. 451,000 for the week is better than the 475,000 that analysts were expecting.

Stocks are rallying, with the S&P 500 up about 0.8%.

The really good news is not the number itself, but the fact that things are trending better (towards 450K) away from the 500K weekly number that we had been seeing.

Here’s how things had been looking.

initial

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