US initial jobless claims and continuing claims

  • initial jobless claims rise to 853K vs 725K estimate
  • prior week revised to 716K from 712K
  • US continuing claims rise to 5757K vs 5210K estimate
  • prior week revised to5527K vs 5520K estimate

The rise in the initial jobless claims it certainly a concern especially as pandemic headwinds increase after the Thanksgiving holiday and coming into the key Christmas selling season:

Initial jobless claims

Stocks have a slower after the report. The Dow industrial average is now down -48 points. The S&P index is down around 10 points, and the NASDAQ index is down around 62 points according to futures.