Stock futures were flat early after a 3% surge in the S&P 500 index in the prior session. Asian markets were notably higher overnight, but European markets were mixed.
Initial jobless claims for the week ended August 28 totaled 472,000, in line with expectations an lower than the 478,000 reported in the prior week. Continuing claims fell 23,000 to 4.456 million. Separately, nonfarm productivity in the second quarter fell 1.8%, after a 3.9% advance in the prior quarter. Unit labor costs rebounded 1.1% in the second quarter, following a 4.6% drop in the first. Both numbers were in line with expectations. Still to come are factory orders and pending home sales data.
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- 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.
