US initial jobless claims 202K vs 210K estimate

<ul><li>Prior week 202K revised to 203K</li><li>Initial jobless claims 202K vs 210K estimate</li><li>4-week moving average initial jobless claims 207.75K vs 208.0K last week</li><li>Continuing claims 1.834M vs 1.871M estimate</li><li>Prior week continuing claims 1.855M revised to 1.868M</li><li>4-week MA continuing claims 1.863M vs 1.870M last week.</li></ul><p><a href="https://www.dol.gov/ui/data.pdf" target="_blank" rel="nofollow">Click HERE</a> for the full report. </p><p>The premarket stocks ahead of the release and the current shows a negative reaction due mainly to the stronger CPI data:</p><ul><li>Dow, +38 The Dow is now down -55 points</li><li>S&amp;P, 8. The S&amp;P is now down -10.45 points</li><li>Nasdaq, +79. The Nasdaq is now down -9.8 points</li></ul><p>The USD is higher but now falling back lower.</p><p>Yields have moved higher but remains in negative territory. </p><ul><li>2 year 4.347% -2.3 basis points</li><li>5-year 3.956% -2.1 basis points</li><li>10 year 4.015% -1.5 basis points</li><li>30-year 4.200%, unchanged</li></ul><p>The number of cuts in 2024 is now 137 bp vs about 143 bp before the data.</p><p>Update: US stocks are reversing declines 9 minutes after the release.</p><ul><li>Dow Industrial Average -12 point</li><li>S&amp;P index -3 point</li><li>Nasdaq index +8 points</li></ul>

This article was written by Greg Michalowski at www.forexlive.com.