Mixed News on Jobless Claims

The Bureau of Labor Statistics did what they do this morning and announced that, for the week ended July 18th, 1.42M Americans applied for first-time unemployment benefits. That was higher than the 1.3M that was forecast and also higher than the very slightly revised prior week’s total of 1.31M. Continuing Claims for the week ended July 11th fared a little better by coming in at 16.2M and that was less than the 17.1M that analysts predicted. The prior week’s total was downwardly revised to 17.3M from 17.34M.

Since the report was released at 7:30 CDT, little movement has been seen in bond prices. The Treasury’s Ten-Year is up slightly and that has slightly pushed down its yield to around 58 basis points. Crude oil is off slightly at just below $42 while gold enjoys another $8 gain so far today. That puts its price right at $1,880.

Equity markets have been focused upon various earnings reports and are set to open slightly higher.