Sunshine Again
A lot of action on the earnings losses and economic announcements front. So, let’s start. Initial jobless claims came at 512k vs. 523k consensus and 530k the week before. Finally some improvement, but still at some 170k job losses a month.
Markets, off-course, cheered the data. All major indexes ended with nice gains of a 2% and more. We will see if the positive action continues after the tomorrows unemployment figures. Could be, consensus on non-farm payrolls is pretty low at 175k job loses, I think we could manage to beet that.