New claims for unemployment benefits increased 12,000 last week. The Labor Department said that initial claims rose to 465,000 from 453,000 in the previous week. Continuing claims fell 45,000, leaving the four-week moving average at 4.520 million. Stock futures edged lower in initial reaction to the report.
The latest data on existing home sales is due at 10:00 am ET. The index is expected to show a small increase in August sales. At the same time, the Conference Board’s index of leading indicators will be released. The consensus calls for slight improvement.
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