After two weeks of Initial Jobless Claims below 460k, they moved back above at 465k this week, 15k above expected. Continuing Claims fell by 48k but Extended Benefits past 26 weeks rose by a net 208k. Just as the S&P’s couldn’t sustain any momentum after breaking above the upper end of the trading range of 1130ish, the economic data is unable to generate any positive momentum to the upside. Every breakout has been false and blah remains the unfortunate theme. Everyday people debate on how we create more jobs here as it’s some mystery 234 years into the life of the US. It’s very easy, since business creates the majority of jobs, lower the cost of doing business in all facets. One would be amazed at what follows.
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