Jobless Claims Fall to 409,000, Lowest Level in a Month
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Stocks are trading higher just after the opening bell Thursday following better-than-expected initial jobless claims for the week ended May 14th. The Dow Jones is now up more than 50 points, the Nasdaq is up about 8 and the S&P 500 is up about 4.
Americans filing for initial jobless benefits fell 29,000 from an upwardly revised 438,000 to 409,000. Economists on the Street had been looking for a reading of 420,000. Initial jobless claims have not been below the 410,000 mark since mid-April.
The Labor Department said continuing claims for the week ended May 7 were 3.711 million, down from the prior week reading of 3.972 million. The Street had been expecting continuing claims of 3.728 million.
Americans filing for initial jobless benefits fell 29,000 from an upwardly revised 438,000 to 409,000. Economists on the Street had been looking for a reading of 420,000. Initial jobless claims have not been below the 410,000 mark since mid-April.
The Labor Department said continuing claims for the week ended May 7 were 3.711 million, down from the prior week reading of 3.972 million. The Street had been expecting continuing claims of 3.728 million.
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