Employment numbers continued to improve and beat expectations. Initial claims were 304,000, an increase of 2,000 from the revised number of the prior week but much better than the consensus number of 320,000. The 4-week moving average was 312,000, which is the lowest number since October 6, 2007.

Continuing claims were 2,739,000 and that is the lowest number since December 15, 2007.