Bummer for the bulls. Initial claims jumped sharply to 436K.
Not a disaster, but moving back closer to 450K, rather than 400K.
Stocks have dipped just a touch on the news.
Background: This number has been showing clear improvement of late, trending from the 450K range towards the 400K area. Today, analysts are looking for 422K, which is up a bit from 407K last week.
Of course, this is just an appetizer for the big show tomorrow — the jobs report.
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