Market expectations for weekly initial unemployment claims (from Econoday) were 750 K to 878 K (consensus 803 K), and the Department of Labor reported 793,000 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 856,500 (reported last week as 848,250) to 823,000
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