Markos Kaminis (Wall St. Greek) submits: Two weeks ago, we tracked Weekly Initial Jobless Claims as they climbed above the important psychological threshold of 400K. While this past week's report from the DOL showed claims eased from that level, it unfortunately illustrated a still troubling bump in claims trend. After the last report we theorized that the government shutdown threat may have played a role in pulling claims forward, and this past week's data seems inconclusive in proving or disproving our theory.
On Thursday morning, Weekly Initial Jobless Claims were reported for the week ending April 16. Claims eased from the prior week's revised mark of 416K, down to 403K. Unfortunately, that still pulled the four-week moving average of jobless claims higher by 2,250, to 399K.
This troubling trend, and the fact that claims have again found steady ground above the psychological threshold of 400K, could increasingly bother the stock market should it continue. The flow
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