The Labor Department is out with two market-moving reports. The weekly Jobless Claims came in at very impressive levels compared to the past and the Producer Price Index looks a bit mixed between the core and headline data.
The weekly claims fell by 13,000 to 348,000 (finally under that 350K mark). This is a drop of 13,000 while economists were actually looking for that figure to tick back up. The prior week was revised to 361,000 from 358,000 previously reported. The army of unemployed, measured by the continuing jobless claims with a one-week lag, fell by 100,000 down to 3.426 million.
Inflation is remaining tame, albeit a tad above estimates. For the month of January, PPI rose by only 0.1% versus an expected rise of 0.4% by Dow Jones consensus estimates. The Core PPI (ex-food and energy) came in at +0.4% versus a Dow Jones estimate of +0.2%. All in all, this may be a wash between the headline data and the core data. The caveat, this was the highest reading in 6 months on the core figures.
JON C. OGG
The Average American Has No Idea How Much Money You Can Make Today (Sponsor)
The last few years made people forget how much banks and CD’s can pay. Meanwhile, interest rates have spiked and many can afford to pay you much more, but most are keeping yields low and hoping you won’t notice.
But there is good news. To win qualified customers, some accounts are paying almost 10x the national average! That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 3.80% with a Checking & Savings Account today Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.
Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 4.00% with a Checking & Savings Account from Sofi. Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.