Jobless Claims Lower Than Expected

The Bureau of Labor Statistics released its weekly data for Jobless Claims and the news was better than expected. For the week ending July 4th, Initial Jobless Claims were 1.31M against an expectation of 1.38M with the prior week’s total of 1.43M revised to 1.41M. Continuing Claims for the week ending June 27th added up to 18.1M versus the forecast of 18.8M. The preceding week’s count of 19.3M was revised to just 18.8M.

The Treasury market will begin its day with a modest rally still leaving the Ten-Year’s yield around 65 basis points. With the NASDAQ setting new records almost daily, the DJIA is poised to open flat. Crude oil is fractionally weaker but still hanging in around $41. Gold looks to have slipped a couple of dollars, but is still over $1,800 at $1,806.