US initial jobless claims
  • Initial jobs claims 230K versus 200K est. last week unrevised at 207K
  • 4-week moving average of initial jobless claims 210.75K vs last week 204.5K
  • Continuing claims 1.559M versus 1.733M estimate. This was the lowest level for insured unemployment since June 2, 1973.
  • 4-week moving average of continuing claims 1.721M vs 1.798M last week
  • The largest increases in initial claims for the week ending January 1 were in New York (+8,812), Pennsylvania (+6,772), Connecticut (+6,020), Washington (+4,626), and Michigan (+3,923),
  • The largest decreases were in Missouri (-1,086), Tennessee (-674), Puerto Rico (-329), Rhode Island (-288), and New Mexico (-101).

A surprise with the initial claims (higher than expectations), and also in continuing claims which are now at lows not seen since 1973. That's a long time ago and indicative of a full employment (or near full employment) picture.

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US stocks are trading higher after the PPI and and claims data:

  • Dow industrial average is up 100 points
  • S&P index is up nine points
  • NASDAQ index is up 30 points

The US debt market:

  • two year, 0.91% up 1.4 basis points
  • five year 1.519%, up 2.2 basis points
  • 10 year 1.746%, up 1.0 basis point
  • 30 year 2.088%, +0.2 basis points