Succinct Summations week ending March 14, 2014 Positives: 1. Initial jobless claims fell to 315k, 6th lowest claim in ~7 years. 2. Despite all the noise, the S&P 500 is 2% off ALL-TIME HIGHS. 3. Gold is at its highest level since September, perhaps a sign of inflation pressures. 4. Retail sales ex-auto & gas...Read More
The Bloomberg Consumer Comfort Index rose 0.9 points to -27.6 in the latest week, the highest since last August. Initial jobless claims fell 9,000 to 315,000. The 4-week average fell 6,000 to 330,500. Continuing claims fell 48,000 to 2.855 million. The Fed’s balance sheet rose $9.6 billion last week, with total assets of $4.181 trillion. [...]
Less people are looking for unemployment insurance.
WASHINGTON -- Initial jobless claims unexpectedly fell last week to 315,000, the lowest level since November, as the labor market showed signs of emerging from a winter chill.
On the heels of last week's surprise beat in jobless claims (amid all the weather turmoil), this week's initial claims beat by the most since November. Down 9,000 to 315,000, this is the best (lowest) claims data in over three-and-a-half...Show More Summary
At 8:30 a.m. ET, the Department of Labor will release its latest weekly tally of initial unemployment insurance claims. Economists estimate claims ticked up to 330,000 from 323,000 a week ago. "Initial jobless claims probably normalized...Show More Summary
Hickey and Walters (Bespoke) submit: Investors got a nice surprise this morning with an economic report than was actually considerably better than expected. Initial jobless claims for the latest week dropped by 26K to 323K, which was 13K below the consensus forecast. Show More Summary
Longer-term trend points to improvement for first time in more than a month.
WASHINGTON -- Initial jobless claims fell sharply last week to their lowest level in three months, the Labor Department said Thursday, as a private report showed layoffs eased in February.
Investors got a nice surprise this morning with an economic report than was actually considerably better than expected. Initial jobless claims for the latest week dropped by 26K to 323K, which was 13K below the consensus forecast. It...Show More Summary
Must be the weather... Initial jobless claims swung from the worst in 2014 last week to the best in over 3 months this week, with a 323k print (well below the 336 expectation). No states estimated claims this week but even the Labor Department suggests the series' volatility is "coinciding" with winter storms. Show More Summary
At 8:30 a.m. ET, the Department of Labor will publish its latest weekly tally of initial weekly unemployment claims. Economists believe claim fell to 336,000 from 348,000 a week ago. "Jobless claims fell in the week of Feb. 15 then jumped in the following week," noted UBS's Kevin Cummins. Show More Summary
By Ironman at Political Calculations: Mike Shedlock, a.k.a. Mish, raises the question of whether new jobless claims have begun to follow a "recession pattern", after noting an unexpected rise in the number of initial unemployment insurance claims filed in the week ending Saturday, 22 February 2014. Show More Summary
Durable goods orders fell -1.0% in January on weak transportation orders. Ex-transportation orders rose 1.1%. On a year-over-year basis, orders are up 4.6%, with ex-transportation orders up 1.2%. Initial jobless claims rose 14,000 to 328,000. The 4-week average fell 250 to 338,250, while continuing claims rose 8,000 to 2.964 million. The Bloomberg Consumer Comfort Index [...]
Today's comic by Ruben Bolling is Billy the Kitty goes to the click farm for Facebook likes: These Daily Kos community posts were the most shared on Facebook Feb. 26: How Ohio Pulled $4 Billion+ from Communities and Redistributed ItShow More Summary
Analysts expected a smaller number, but longer-term trends are slightly steadier.
A bit of a miss. Initial jobless claims rose to 348K for the week, up from 336K. Analysts had expected just 335K. This all seems fairly within the realm of "noise" though it corroborates the continuing weakish trend of data. Hope it's the weather! Join the conversation about this story »
The Consumer Price Index rose 0.1% in January. The "core" CPI, which excludes food and energy, also rose 0.1%. On a year-over-year basis, both the headline and core CPI rose 1.6%. Initial jobless claims fell 3,000 to 336,000. The 4-week average rose 1,750 to 338,500, while continuing claims rose 37,000 to 2.981 million. Markit Economics’ [...]
By James Picerno: The optimists got a break today. This morning's economic updates brought encouraging news via initial jobless claims and the flash estimate of Markit's US Manufacturing Purchasing Managers Index (PMI). The PMI report was particularly strong. Show More Summary
Longer-term trends continue to creep higher.