US jobless claims lower than forecast, futures rise

July 8, 2010



The rose back up to 10,018.28 Wednesday, rising 275 points after the  said initial jobless claims were lower than expected.

The report, which showed a modest dip in initial jobless claims, was better than what a poll of economists had predicted. The economists, who were polled by, had predicted 465,000 initial jobless claims in the month ending July 3; the number the Labor Department released was 454,000.

The four-week average of initial claims also fell 1,250 to 466,000, the Labor Department said on its website.

Also, after the raised its 2010 world growth estimate to 4.6% from 4.2%, international markets rallied. The rallied along with the Dow, up 3.13% to 1,060.27. However, the stayed flat at 2,159.47.