Jobless Claims Fall, Futures Rise

The initial jobless claims were just released, and it came in better than expected, and futures are rising a bit on this news. Initial jobless claims for the week ending May 14 came in at 409,000, versus economist estimates of 420,000. The prior week was revised up to 438,000, from 434,000. Continuing claims fell sharply, going from 3.792 million to 3.711 million. At last check, Dow futures were up 47 points, NASDAQ futures were up 8 points, and S&P 500 futures were up 5.5 points.