Futures pointed to a higher open today as investors shrugged off some bleak data points, choosing to focus on a drop in the jobless-claims number. Initial jobless claims fell for the second straight week to 610,000. However, continuing claims topped 6 million for the first time. These disparate readings indicate the pace of layoffs may be slowing, but it isn’t getting any easier to find a new job.
The March housing data was not as hopeful as the previous month. Starts dropped 10.8% after rising 17.2% in February. Permits fell 9.0%, which is the lowest level of the current cycle and well below the prior three-month average. On a related note, foreclosure activity surged 46% in March from a year earlier. On the earnings front, JP Morgan joined the growing list of companies topping estimates.
- Harrington Wealth Management
- Our firm provides comprehensive trust and investment management services by employing a customized asset allocation approach. By focusing on the individuality of each client, Harrington Wealth Management Company has helped high net worth individuals, families, and small institutions grow and sustain their wealth through proven investment practices since 1994. A fee-only advisor, we also offer other financial services from our offices in California, Kansas and Indiana that include custody, estates, land trusts, probate administration, guardianships, personal trust administration, retirement plan services, and investment consulting services.
