Market expectations for weekly initial unemployment claims (from Econoday) were 675 K to 733 K (consensus 718 K), and the Department of Labor reported 770,000 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 762,250 (reported last week as 759,000) to 746,250
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