Stock futures are moving lower and Treasuries are moving higher following news that initial jobless claims rose to 500,000 last week. This was more than the 475,000 new claims expected. Week-over-week, initial claims are up 12,000, while continuing claims are down 13,000.
A report on regional manufacturing activity from the Federal Reserve Bank of Philadelphia is expected to show an increase, following a similar report from the New York Fed. The report is due at 10:00 am ET. At the same time, the Conference Board’s index of leading indicators is expected to show a small increase from the previous month.
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