Initial jobless claims

There was a fairly significant revision, but the claims rebounded back toward the original levels from last week and seen most recently near the 260K. The trend has been more to the upside but the employment report from Friday showed a much stronger than expected gain in jobs as service sector continues to rebuild from post pandemic declines.

The US stocks moved higher after the better-than-expected PPI, but there is some retracement of the spike higher.