US initial jobless claims and continuing claims for the current week
- Prior week 269K revised to 271K (lowest level since March 14, 2020)
- Initial jobs claims 267K versus 257K estimate.
- 4-week moving average initial jobs claims 278K vs 285.25K. That is the lowest since March 14, 2020 when it was at 225.5K.
- Continuing claims 2160K an increase of 59K from last week.
- 4-week moving average continuing claims 2245K vs 2355.75K. The averages the lowest level since March 21, 2020 when it was at 2071.75K
- The largest increases in initial claims for the week ending October 30 were in Kentucky (+2,882), Louisiana (+907), Minnesota (+885), Tennessee (+798), and New Jersey (+768),
- The largest decreases were in Missouri (-3,014), Florida (-2,286), Virginia (-1,482), Oklahoma (-1,324), and Pennsylvania (-1,026).
The focus is on the much higher-than-expected CPI data. US yields are higher with the tenure up at 1.488% +3.9 basis points. The stock futures have moved lower with the NASDAQ now down over 100 points. The Dow is down around 85 points. The S&P index is down -17 points. The USD has spiked higher on the data too.
