In the data released this morning, Initial Jobless Claims were at 213,000 for the previous week, lower than forecasts. Historically, weekly claims below the 300k level are consistent with a firm labor market and stable economy. Claims have remained in the low 200k range since early 2018 and have not been above 300k since March of 2015. Strong labor market data coupled with a Federal Reserve remaining patient with rate increases going forward bodes well for a stable economy in the months ahead. Given this backdrop and with earnings season upon us, upcoming earnings results and announcements will be key for the markets in the weeks ahead. In all, equity futures are lower this morning heading into the market open.
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