US DATA: Initial jobless claims -1k to 404k in Oct 8 wk, below the
410k level expected. Claims in the prev wk revised up slightly to 405k
from the orginal estimate of 401k. Labor analyst said nothing unusual in
state data but that due to Monday’s federal holiday, California, DC,
Indiana, Maryland and Virginia were estimated. Unadjusted claims only
+66,442 to 398,836 vs seas factors expect of +67,000. Seas factors
expected a large NSA jump as the week of this report is start of a new
quarter. The 4-wk moving avg -7k to 408k in Oct 8 wk, low since the Aug
13 wk. Continuing claims -55k to 3.670m in the Oct 1 wk, low since April
16 wk.