Initial Jobless Claims come in stronger at 353K (last week 388K, revised from 386K)

The expectations was for 380K (bloomberg). Continuing Claims came in at 3287K vs 3300K expectations.

The July figures have been influenced by faulty seasonals due to the auto plant shutdown (according to the Labor Department). Nevertheless, the 4 week average fell to 367,250 vs 376,000. This is the lowest since March.