US Jobless Claims Missed Street Expectations by 6000 Unemployed workers

Find out how a disappointing US Jobless Claims report will affect the stock market…

The bullish trend of wall street’s expectations consistently being surpassed by the majority of key financial metrics and corporate earnings this season is being challenged today. This morning the weekly US jobless claims were 6000 higher than expected about 2.3% or so. This week’s total new US jobless claims this week climbed to 266000 new people not working who want to work. This┬ávs the streets expected 260000.

I’m guessing that the market is going to pull back a bit today. I’m honestly sceptical of the big financial gains since the housing bubble. well not all of it maybe, not even most of it, but definitely 25-35% of it. The multiples on earnings that stocks are selling for is just absolutely ridiculous in my opinion. I understand that a lot of traditional smart money has switched sides over the past decade taking on the risk of equity in a desperate attempt to find some sort of yield for income that use to be so readily available in bonds and long term treasuries. I’m just to afraid to take part in this rally. At some point the out of place Bond money is going to find a smarter safer place to seek shelter under the next income providing security.

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