Initial jobless claims come out at 8:30 AM ET, and analysts expect a reading of 384K, down from 399K last week.
We’re unusually eager to see the number, because actually it’s been climbing of late.
Here’s a one-year look at claims.
As you can see, it’s a bouncy, noisy number, but the fact that it’s jumped back close to 400K of late is not welcome. If it’s just noise that’s fine. But if the up-trend stays in place, watch out.