Photo: DonkeyHotey | Flickr
ORIGINAL POST: Next up! The latest reading of initial jobless claims.Analysts expect to see 370K weekly claims. That would exactly be in line with last week’s 370K.
The number is one of the best high-frequency predictors of the economy and the market, so this is big. If this stays tame, it will do a lot to assure that things aren’t deteriorating too badly.
UPDATE: The number is 383K, a miss from an upwardly revised.
This isn’t a total disaster, but it is mediocre.
The bottom line is that you don’t want to see the continued upward creep.