Thursday, September 10, 2009

China Streak Ends; Jobless Claims Comes In Lower Than Expected

Well, all good things come to an end, and that's exactly what we saw overnight with China's Shanghai Composite Index, which closed down 0.73%. The rest of Asia did really well, though. Here's the boxscore:

Hang Seng: +1.05%
Nikkei: +1.95%
Korean Kospi: +2.30%
Singapore's Straits Times: +1.19%

As for the jobless claims released this morning, the print came in at 550k for the week ending September 5th. Wall Street consensus was looking for unemployment benefits to hit 560k for the week. This is good news, but the revision for the prior week popped to 576k from 570k. Regardless, there is a downward trend here--welcome news coming off the heels of last week's dismal report.

More later.

Talk to you,

Todd M. Schoenberger, Managing Director
LandColt Trading, Inc.

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