Initial jobless claims at 298K compared to 303K expected. The variance on the data is about 12K so the miss is next-to-nothing bot with the Fed beginning to tilt more hawkishly, it all counts.

The market is circling Yellen’s speech tomorrow but a handful of decent indicators are due up later:

  • 1345 GMT (9:45 am ET) Markit US PMI exp at 55.7
  • 1400 GMT (10 am ET) Philly Fed exp at 19.7
  • 1400 GMT (10 am ET) Existing home sales exp at 5.02m
  • 1400 GMT (10 am ET) Leading index exp at +0.6%