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The weekly U.S. jobless claims fell to lowest level since September. This sent the U.S. market futures skidding lower.
Around 204,000 people applied for first-time unemployment benefits last week - down from the previous week's total of 225,000, less than expectations also of 225K, and below the pre-pandemic weekly average of 218,000. #CoSoFinance https://www.kitco.com/news/2023-01-05/U-S-weekly-jobless-claims-drop-to-204-000.html
@RealSeanBrodrick --Seems like some of the layoffs announced in the tech & finance sector might change these numbers in the coming weeks. Corporate America seems to be taking the lead from how the Fed has acted over the last year. The challenge here is distilling how short term traders are acting when compared to the behavior of large employers. There isn't much alignment in the space. Not that there has ever been.