Market expectations for weekly initial unemployment claims (from Econoday) were 685 K to 725 K (consensus 710 K), and the Department of Labor reported 742,000 new claims. The more important (because of the volatility in the weekly reported claims and seasonality errors in adjusting the data) 4 week moving average moved from 755,750 (reported last week as 755,250) to 742,000
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