Movements in the economy, good or bad, up or down, move interest rates up and down through out each trading day.  Jobless claims is one of the reports that moves interest rates up or down. Today’s jobless claims number came in significantly lower than expected. Jobless claims came in at 388,000 lower than the expected mark of 416,000 and beneath the floor number of 400,000.  Yesterday interest rates were all over the map as the traders on Wall Street tried to figure out where the economy is headed. Three economic activity numbers will be released today. The Weekly jobless claims number, the Chicago Purchasing Managers survey and the pending home sales numbers.

Pending home sales is significant because more home being purchased mean more trips to Home Depot, Sears and other stores to furnish the home.  The Chicago PMI number measures manufacturing activity in the Mid-West.  And the jobless claims tracks the contraction or expansion of the job market.

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