Despite the positive
jobless claims report, the impression seems to be that the U.S. jobs market is soft.
In the morning, the U.S. Department of Labor released its weekly Initial
Jobless Claims report.
Not exact matches
U.S. indexes were mainly lower amid earnings
reports from the American banking sector and data showing a continuing decline in
jobless insurance
claims and tame inflation.
Employment related indicators were neutral to positive: The Department of Labor
reported that Initial
jobless claims declined 6000 from last week's unrevised 369,000.
The Department of Labor
reported that Initial
jobless claims at 367,000 increased 8,000 from the prior week's unrevised figure.
Following Thursday's unexpected bump in weekly
jobless claims, today brings
reports on consumer sentiment as well as industrial output.
CNBC's Rick Santelli
reports the latest read on productivity, initial
jobless claims and trade balance.
Mon Apr 30: Personal Income 8:30 AM ET; Pending Home Sales 10:00 AM ET Tue May 1: ISM Mfg Index 10:00 AM ET; Construction Spending 10:00 AM ET Wed May 2: ADP Employment
Report 8:15 AM ET; EIA Petroleum Status 10:30 AM ET Thu May 3: International Trade 8:30 AM ET;
Jobless Claims 8:30 AM ET Fri May 4: Employment Situation 8:30 AM ET
All markets will continue to focus on the volatility in the equity and bond markets, geopolitical events, developments with the Trump Administration, corporate earnings, oil prices, and will turn to this afternoon's FOMC Meeting Statement followed by
reports tomorrow on UK PMI, Eurozone PPI, CPI, US Challenger Job Cuts, Productivity, Unit Labor Costs,
Jobless Claims, Trade Balance, Markit Services PMI, ISM Services, Durable Goods and Factory Orders for near term direction.
The market is expected to see the weekly initial
jobless claims data and the trade balance in the US with focus on Friday's non-farm payroll
report.
The economics calendar will be busy Thursday, with the weekly
report on initial
jobless claims, as well as readings on worker productivity and the trade balance are all due at 8:30 AM ET (1230GMT).
Weekly
jobless claims dropped 42,000 to 338,000, according to today's
report, a dip that beat economist predictions and also marked the biggest weekly drop in more than a year.
U.S. stocks rose as investors digested
jobless claims data which fell to a three month low ahead of Friday's monthly employment
report.
Jobless Claims is the number of people who are filing or have filed to receive unemployment insurance benefits, as
reported weekly by the U.S. Department of Labor.
Turning to today's economic calendar, Eurozone trade data will be released along with a string of US
reports including initial
jobless claims and manufacturing figures.
At 8:30 AM, better than expected
reports on US
Jobless Claims (211k vs. exp.
The
report said initial
jobless claims inched up to 211,000.
Initial
jobless claims are around 320,000, a level usually associated with monthly employment gains of more than 200,000, and the employment components of the ISM surveys
report healthy labour demand.
The news comes on the heels of a
report that said first - time
jobless claims fell to 363,000 last month, and a private study that estimated 158,000 jobs have been added.
was finally released, the pound jumped even higher as a knee - jerk reaction because the
report looked good on the surface, with the
jobless rate for the three months to September unchanged at a record low 4.3 % and the number of people who
claimed unemployment benefits increasing only by 1.1 K in October, which is less than the expected 2.9 K increase.
And when the U.K.'s latest jobs
report was finally released, the pound jumped even higher as a knee - jerk reaction because the
report looked good on the surface, with the
jobless rate for the three months to September unchanged at a record low 4.3 % and the number of people who
claimed unemployment benefits increasing only by 1.1 K in October, which is less than the expected 2.9 K increase.
Before economic
reports like the weekly
jobless claims come out, the media coverage is full of predictions about how the market is likely to react.
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Instead of speculating on the markets» reaction to
reports like
jobless claims and interest rates, trade the numbers themselves with a straightforward yes - or - no binary.
Fueling the uptick: a promising jobs market, with the unemployment rate at a three - year low and first - time
claims for
jobless benefits falling last week to a four - year low, according to a Labor Department
report Thursday.