The Market Rally Has Vanished

stocks

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After a strong start, stocks slowly shed gains and are now virtually flat for the day.Earlier, the Department of labour reported that initial jobless claims had fallen to 339k from 369k last week.

Economists were looking for around 370k.

However, there was some confusion about whether the number is as accurate as it could be.

A source at the Department of labour told Business Insider that California may have failed to process 15,000 to 25,000 claims.

Even though the adjusted number would’ve still been better than economists’ expectations, the margin would’ve been much slimmer.

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