Photo: Dan Kitwood/Getty Images
ORIGINAL POST: The big number of the day: Initial jobless claims.As we always say, it’s a fantastic high-frequency measure of the economy, and which also tends to be very predictive of the market as a whole.
Analysts expect a reading of 372K, down from 374K.
We’ll have the number here LIVE at 8:30 AM ET.
Huge drop in initial jobless claims.
They fell from an upwardly revised 376K down to 350K.
*There’s some talk that this could be the result of the July 4 holiday, so we’ll see next week if it reverts back fast. There appears to have been some kind of irregular halt in factory layoffs.
According to Dow Jones, this is the lowest level since March 2008.