Thursday is shaping up to be a calmer and less eventful trading day than the two most recent examples. It’s similar in the sense that there was some weakness to overcome this morning, but pleasantly different in the sense that the weakness was overcome very quickly. The morning’s economic data played some role in the resilience with both Challenger Job Cuts and Jobless Claims conveying some incremental labor market weakness. With no other scheduled data today and no fireworks expected from the afternoon’s Fed speakers, the focus is decidedly shifting to Friday morning’s jobs report.
Source: mortgagenewsdaily.com