U.S. initial jobless claims for the week ending October 24 was 751,000, a 40,000 fall from the previous week’s revised level, and below expected 770,000, according to the Department of Labor press release. Continuing claims were 7.76 million, a decline from the expected 7.78 million on a 4-week average.
- Prior initial jobless claims revised higher from 787,000 to 791,000.
- Prior continuing claims revised higher from 8.375 million to 8.465 million.
- The 4-week moving average was 787,750, down 24,500 from the previous week’s revised average.
- Unadjusted advance actual initial claims under state programs were 732,223, a 3.7% or 28,354 decline from the previous week.
U.S. stocks are gaining. SPY is up 0.96%, QQQ: NASDAQ is up 1.43%, S&P 500 is up 0.99%
