Jobless Claims Fall More Than Expected

This just in from the BLS: Initial Jobless Claims for the week ending October 17 came in at 787k against an estimate of 870k while the prior week’s total of 898k was revised to 842k. Continuing Claims for the week ending October 10th fell to 8.37M versus analysts expectations of 9.6M as the prior week’s total of 10.01M was revised to 9.4M. Treasury prices are up in early trading with the Ten-Year’s yield hovering around 80 basis points while the Long Bond resides at 1.61%. This week has seen the yield curve steepen. Gold is off about $20 to $1,904 while crude oil is flat at just over $40. DJIA futures point to an opening slightly in the red.

Later today, investors should get news that the Conference Board’s Index of Leading Indicators rose by 0.6% in September along with a new report for Existing Home Sales that should show about a 5% increase for last month.