Jobless Claims Hit Post-Pandemic Low

The stock market is down again today. If we close lower, this will be our third daily loss in a row, and four down days in the last five. Energy, in particular, has been weak lately.

The S&P 500 also broke below its 50 day-moving average. If you recall, the index had toyed with the 50-day moving average a few days ago. We bounced off the 50-DMA and had a five-day winning streak. We’ve now given that back.

We had two key economic reports this morning. First up, Q4 GDP growth was revised up to 4.3%. GDP is still down 2.4% from a year ago.

The other news is that the jobless-claims report came in at 684,000. As odd as it sounds, that’s a post-pandemic low. Even though it’s a new low, it’s still higher than the highest peak from 12 years ago.

Posted by on March 25th, 2021 at 12:13 pm


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