«This is yet another sign that, as we first saw with the initial
jobless claims data, the recovery from Harvey was very fast and the disruption from Irma in Florida was far less than initially feared,» said Stephen Stanley, chief economist at Amherst Pierpont Securities.
As I mentioned above, the four - week moving average of
the jobless claims data breached 500,000 this week, which has happened only 4 other times.
U.S. stocks rose as investors digested
jobless claims data which fell to a three month low ahead of Friday's monthly employment report.
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.
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.
Leading up to Friday's
data release,
jobless claims came in at 240,000, just below the expected 242,000.
Blow - away Philly Fed
data at a 1993 level, slightly stronger consumer inflation
data, a surprise jump in home sales and still sub - 300,000 weekly
jobless claims.
On the
data front, initial
jobless claims increased to 211,000 in the prior week, but remain near the lowest level since 1973.
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.
Data on initial
jobless claims for the latest week and import prices for March will be released at 8:30 a.m. ET.
Other job - related
data continue to show signs of improvement with initial
jobless claims hovering near a new low of the recovery at the end of March.