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1. Today’s weekly initial jobless claims report was 881,000. The expectations were for 915,000 and 130,000 better than last week’s report, This number is also below the psychological 1.0 million mark.
Continuing claims also declined to 13.254 million from a revised count of 14.49 million. This is also showing improvement.
2. This morning, the major stock indexes are dipping a bit, but the markets are very overbought and extended at this time. There does not seem to be anything wrong just yet, but if something changes I will let you know. Nasdaq is getting demolished. Everything tech is getting killed. TSLA down 8 percent. So this was much better than expected. A lot of fleas. People are fleeing the Nasdaq. Not to be unexpected. There are
3. Covid cases are down and the pandemic is coming to an end. The market has known this for months and here we are.
4. Gold and silver taking a breather. Gold futures up slightly silver down a bit. Mining stocks are down a little more than 1 percent. Some backing and filling.