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Jobless Claims Lower For Third Consecutive Week
Weekly jobless claims moderated for the third consecutive week, coming in below forecasts and bolstering optimism that September’s employment report could see significant improvement compared to August.rnrnIn the week ending Sept. 19 there were 530,000 new filings for jobless benefits ― the lowest number since July 11. That’s 21,000 fewer than the prior week’s upwardly revised figure of 551,000. Forecasts were for 550k claims.rn
Jobless Claims, Existing Home Sales, Treasury Auction
The sharp sell-off in yesterday’s final hour hurt investor sentiment around the globe and contributed to general uncertainty about near-term prospects. Commodity prices are slightly weaker this morning with oil near $68 per barrel, while the US dollar has firmed from annual lows. Major events today include the weekly jobless claims report an hour before the opening bell, and the Existing Home Sales index half an hour into the session.rnrnThe session in Asia was deeply mixed. Japan’s Nikkei posted a 1.67% advance even though all-industry activity failed to meet expectations in July and nominal exports showed only minor improvement. Meanwhile,
Stocks Slide After Post-FOMC Gains
Upon release of an upbeat communiqué from the Federal Reserve’s Open Market Committee, equity indexes jumped up to 11-month highs and the dollar weakened, but an hour later the dollar recovered and sent stocks plummeting. rnThe S&P 500 hit an intra-day high of 1,079.89 but by the close it had dived nearly 20 points from that peak to 1,1060. That puts it down a full percentage point for the day ― making this the worst day for the benchmark index since Sept. 1. Similar moves brought the Nasdaq down 0.69% to 2,131, while the Dow closed 0.83% below par at
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