Wow. The US jobs picture continues to look bright. The latest reading—out at 8:30 a.m. EST—showed weekly jobless claims falling unexpectedly by 10,000 to 332,000.
What’s more, the smoothed-out, four-week moving average dropped to 346,750, the lowest since March 2008. That’s not long after the Great Recession began in December 2007.
The better-than-expected news on the US jobs front seemed to shore up sentiment in the stock market, where the S&P 500 has yet to notch a new all-time high. (Something the Dow did last week.) Today might be the day.