CD Media

UPDATE: 6.6 Million Jobless Claims

Photograph of a Soup Kitchen during the Depression
Photograph of a Soup Kitchen during the Depression


ISM-NY Business Conditions Index (Mar) printed at 12.9 vs 57.9 estimate.

Factory Orders (MoM) (Feb) printed at 0.0% vs 0.2% estimate.


Wall Street was bracing for a bad number, and wow, did we get a bad number. Initial unemployment claims hit 6.6 million for the last week. In a silver lining, the trade imbalance continued to shrink.

Equity futures had been up strong overnight but softened on the news, now showing as we write a 1% gain.

Overnight, Trump, Russia and OPEC all showed interest in solving the oil production nightmare which has sent prices to decade lows. Crude is rallying about 10% on the news.

Initial Jobless Claims (Mar 27) printed at 6648k vs 3500k consensus estimate (which was just an educated guess).

Trade Balance (Feb) printed at -$39.9B vs an estimate of -$40B.

Continuing Jobless Claims (Mar 20) printed at 3.029M vs 4.882M.

Initial Jobless Claims 4-week average (Mar 27) printed at 2612k.

Related posts

Jobless Claims Explode, But Does It Matter?

CD Media Staff

Inflation Is Not Coming, It’s Here…Dust Off That ‘Misery Index’

CD Media Staff

Dow Breaks Intraday Bear Market Level

CD Media Staff

Leave a Comment

Subscribe to our evening newsletter to stay informed during these challenging times!!