US initial jobless claims 215K vs 220K estimate.
- Prior week initial claims 215K revised to 216K
- Initial jobless claims for the current week 215K vs 220K estimate
- 4-week moving average for the initial claims 222K vs 224.5K last week
- Prior week continuing claims 1.821M
- Continuing Claims 1.814M vs 1.810M estimate
- 4 week moving average for continuing claims 1.803M vs 1.792M last week.
The number for initial claims remain in the range. The focus is on the US jobs report data which came in weaker than expectations versus the nonfarm payroll. The unemployment rate did decline.
The USDJPY has moved to a new lows. The EURUSD and the GBPUSD have spiked higher. Yields are down -4.7 basis points but remains above 4.0% at 4.116%. The 10 year is down -9.7 basis points and back below the 4.5% level at 4.46%.
US stocks are moving higher as the hope is the Fed leans back to the ease side without heading into a recession.
Nasdaq is up close to 300 points. The S&P is up 40 points. The Dow is up 310 points.
This article was written by Greg Michalowski at investinglive.com.