8:30 AM ETJobless Claims
8:30 AM ETCorporate Profits
8:30 AM ET"The good news is that jobless claims fell in the latest week. The bad news is that they fell from an upwardly revised prior week.
The prior week is revised 5,000 higher to 392,000. The 4-week average inched 750 lower to a 386,750 level that is 10,000 higher than a month ago. This comparison points to another disappointing monthly employment report."
Corporate profits were revised down also.
Jobless Claims Keep Getting Revised Up
As of April 5th, 56 of 57 weeks had been revised up.
Now it's about 63 of 64 weeks!
Controlling the headline number?
"Economists have already cautioned that claims data should be viewed over time to detect a trend, but most economists contacted by Dow Jones as well as Labor Department officials said they were unaware of the nearly uniform upward revisions in the data over the past year."
Edited by Rogerdodger, 28 June 2012 - 08:57 AM.
