Initial Claims 457k; expect an upward revision

Initial claims at 457k, statistically insignificant compared to expectations 463k, down 19k compared to the prior weekly revised number (476k, from 472k). We expect another upward revision here. Continuing claims at 4,548, identical to expectations at 4,550 (previous 4,571k revised to 4,593k). Extended benefits once again blow out, +116,432 for the week ended June 5. Durable goods at -1.1%, compared to -1.4% expectations. Ex-transportation was 0.9%, versus expected 1.0%. More...