Initial Claims Reports Plunges

The stock market is doing very well one day after the Fed meeting. The S&P 500 hit a new all-time intra-day high and it’s on track to close at an all-time high. We’ll get the earnings report from Oracle (ORCL) after the close. ORCL is up nicely this morning as well.

The big shocker this morning was the initial jobless claims report. It dropped to 280,000 which is the 17th lowest report in the last 40 years. I should add that this number tends to bounce around a lot and that’s why economists prefer to look at the four-week moving average. It will be interesting to see if future reports confirm this big move.

Posted by on September 18th, 2014 at 11:00 am


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