Jobless claims have surprised the market this morning and risen to 407,000, with the weekly average rising also.
The stock market today is not going to like this. It may also bode poorly for the payroll report tomorrow. If jobless claims over the next few weeks continue on a downward path, stocks will likely fall, and the US Dollar will very likely plunge again as well. And that will drive the Fed to lower interest rates further, and commodities will likely surge higher again. Sounds like a broken record.
And we all thought we had hit the bottom.
Let's hope tomorrow's jobs report is better than expected, and that future jobless claims surprise to the downside.
The stock market today is not going to like this. It may also bode poorly for the payroll report tomorrow. If jobless claims over the next few weeks continue on a downward path, stocks will likely fall, and the US Dollar will very likely plunge again as well. And that will drive the Fed to lower interest rates further, and commodities will likely surge higher again. Sounds like a broken record.
And we all thought we had hit the bottom.
Let's hope tomorrow's jobs report is better than expected, and that future jobless claims surprise to the downside.
