Photo: Google Finance
Markets are selling off this morning.Earlier, we learned that weekly initial jobless claims came in at 374k, which was higher than the 370k that economists were looking for.
Also, last week’s jobless claims number was revised up to 374k from 372k.
July personal spending climbed by just 0.4 per cent. This was lower than the 0.5 per cent expected.
This volatility is a change in an otherwise unvolatile week. Investors and traders appear to be positioning themselves ahead of Ben Bernanke’s speech Friday at the Kansas City Fed’s annual symposium at Jackson Hole, Wyoming.