US jobless claims lower than forecast, futures rise
Thursday, July 8, 2010
The report, which showed a modest dip in initial jobless claims, was better than what a poll of economists had predicted. The economists, who were polled by Thompson Reuters, had predicted 465,000 initial jobless claims in the month ending July 3; the number the Labor Department released was 454,000.
The four-week average of initial claims also fell 1,250 to 466,000, the Labor Department said on its website.
Also, after the International Monetary Fund raised its 2010 world growth estimate to 4.6% from 4.2%, international markets rallied. The S&P 500 rallied along with the Dow, up 3.13% to 1,060.27. However, the Nasdaq stayed flat at 2,159.47.
- Stephen Bernard, Associated Press. "Stock futures rise after jobless claims report" — , July 8 2010
- Hugh Collins. "U.S. Initial Jobless Claims Drop Slightly to 454,000" — , July 8 2010