The Labor Department’s reports on weekly jobless claims and producer prices are out and mostly in-line with expectations.
Claims came in with a drop of 14,000 to 351,000 and the prior week was revised to 365,000 from a preliminary figure of 362,000. Dow Jones was calling for a drop of 5,000, so after the revision this figure was slightly better than expectations. The army of unemployed, measured by the weekly jobless claims, fell by 81,000 down to 3,343,000 claims.
Producer Prices, or wholesale inflation, for February was mostly in-line with expectations but still hotter than it has been in several months. The headline PPI came in at +0.4% and the core rate which excludes food and energy came in at +0.2%. Bloomberg had a consensus reading expectation of +0.5% on the headline data and was calling for +0.2% on the core rate.
Today’s reports were slightly better than expectations, but they are probably not real market moving data as they were close enough to expectations.
JON C. OGG
Travel Cards Are Getting Too Good To Ignore (sponsored)
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
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.