Initial jobless claims fall
First-time claims for unemployment benefits decline more than expected to 453,000.
By Andrea Tse, TheStreet
Initial jobless claims numbers came in better than expected for the week ended Sept. 25, with the advance figure for seasonally adjusted first-time claims at 453,000, a decrease of 16,000 from the previous week's revised figure of 469,000, according to a Labor Department report.
The 469,000 figure was revised from 465,000.
Economists on average expected 460,000.
The four-week moving average was 458,000, a decrease of 6,250 from 464,250 the week before. The Labor Department also said the advance number for seasonally adjusted insured unemployment during the week ending Sept. 18 was 4,457,000, a decrease of 83,000 from the preceding week's revised level of 4,540,000.
The better-than expected drop came as the government said Thursday that the U.S. economy grew at an annual rate of 1.7% in the second quarter.
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[BRIEFING.COM] The Nasdaq Composite (+0.5%) and S&P 500 (+0.2%) posted modest gains on Thursday, but not before enduring a morning dip into the red, which took place in reaction to reports indicating Russia has commenced military exercises on the Ukrainian border.
The news from Europe knocked the key indices from their early highs, while giving a boost to safe-haven assets like gold futures (+0.5% to $1290.80/ozt), Treasuries (10-yr yield -1 bps to 2.69%), and the Japanese yen (102.30 ... More
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