It's Jobless Thursday

And initial unemployment claims fell to 421,000, with the less volatile 4-week moving average falling to a 2¼ year low of 427,500, continuing claims falling by 191,000 4.09 million, and extended and emergency claims fell by 393,200 to 4.51 million.

Better news, but still somewhere between 30K and 60K too high to indicate a recovery in the labor market.

A lot of what happens for the next 6 months will be driven by the what happens in the Greed Day Christmas shopping season, I guess.