Futures remain sharply lower ahead of open Stock futures remain sharply lower following the release of the weekly jobless claims data. There were 304K initial claims versus the expected 315K, while continuing claims came in at 2.58M versus the expected 2.56M.
U.S. initial jobless claims preview: U.S. initial jobless claims preview: jobless claims for the week ended July 5 are expected to see an 11k increase to 326k (median 315k). The 2k claims rise to 315k in the final week of June capped the two-week drop to a lean 313k (was 312k) in the prior week and 314k in the BLS survey week from 318k at the start of the month, as the figures oscillate closer to the 298k cycle-low from early-May than the 345k recent-high at the end of April. The tightening in claims since April implies upside risk to our 210k July nonfarm payroll forecast after the 288k mark in June.
Bank of England maintains bank rate at 0.5% The Bank of England at its meeting today voted to maintain bank rate at 0.5%. The Committee also voted to maintain the stock of purchased assets financed by the issuance of central bank reserves at 375B pounds.
SEC to hold a commission meeting Closed Commission Meeting to discuss institution and settlement of administrative proceedings and other matters relating to enforcement proceedings will be held at SEC Washington, D.C. offices on July 10 at 2 pm.