A little worse than expected
The 4 week MA rises to 282,750 from 282,500
The estimate was for 280K.
Continuing claims dropped to the lowest level since 2000. It came in at 2268K va 2308K last week.
Although this data is not that bad, combined with the housing data, it is not great either. The market wants better and if it does not get it, the dollar will suffer.
The US 1st quarter may be weather impacted, but GDP in Europe is looking better than the US and the competitiveness of the US has been hurt by the US dollar sharp rise - so it may not be all weather. Fed officials are still mixed which throws a monkey wrench into the markets (is it June? September? Later if data dependent?). Feds Fischer will speak today on CNBC and later in Washington. What the vice chair has to say will be of interest to the markets.
