Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
Positive news on the weekly claims front with a 27,000 drop from the revised (upward of course) 392,000 claims last week. With Europe weakening and China in a bit of a funk, I think even the QE3 crowd would like to see U.S. data stabilize and not degrade further. So this, at least temporarily, puts a stop to the spiking weekly claims figures over the past month.
Two more key reports in the next 24 hours in ISM Non Manufacturing at 10 AM and the monthly jobs data tomorrow pre market. Please note today’s claims figures operate in a different time frame than the jobs data being released tomorrow….
