Reply To: Traders Market Weekly: Robots, Dribbler Enthusiasm and Short Squeezes

#42170
Truman
Participant

Initial jobless claims for the week ending August 13 decreased by 2,000 to 250,000 (consensus 266,000) while continuing jobless claims for the week ending August 6 increased by 7,000 to 1.437 million.

The key takeaway from the report is twofold:

first, the initial claims level is still a long way from recession levels; and secondly, this report covers the week in which the survey for the August employment report was conducted. The low level of initial jobless claims supports expectations for continued strength in nonfarm payrolls, which of course should support continued tightening moves by the Federal Reserve.