Here’s a pair of numbers the market won’t be happy about:
January PPI was up 1.4% and core was up 0.3%, both of which were worse than expected.
Jobless claims jumped to 473,000. Analysts had been looking for about 450,000.
Treasuries are up. Dow futures now off nearly 40.
DOL: In the week ending Feb. 13, the advance figure for seasonally adjusted initial claims was 473,000, an increase of 31,000 from the previous week’s revised figure of 442,000. The 4-week moving average was 467,500, a decrease of 1,500 from the previous week’s revised average of 469,000.
The highest insured unemployment rates in the week ending Jan. 30 were in Alaska (7.2 per cent), Puerto Rico (6.9), Idaho (6.5), Oregon (6.5), Pennsylvania (6.4), Wisconsin (6.4), Montana (6.3), Nevada (5.9), Michigan (5.6), Rhode Island (5.5), and Washington (5.5).