US DATA: Initial jobless claims -24k to 398k in July.

US DATA: Initial jobless claims -24k to 398k in July 23 wk, well below
expectations of 420k and the first sub-400k level since the April 2 wk.
No new data from Minnesota available, and only Virginia estimated by the
state itself. Unadjusted claims -103,503 to 366,578 vs seas factors
expect of -81k. The 4-wk moving avg -8,500 to 413,750 in July 23 wk.
Continuing claims -17k to 3.703m in the July 16 employment survey wk,
and -21k from the 3.724m level in the June 18 employment survey wk.