Market expectations for weekly initial unemployment claims (from Econoday) were 695 K to 735 K (consensus 725 K), and the Department of Labor reported 684,000 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 749,000 (reported last week as 746,250) to 736,000
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