US session brought Unemployment Claims and Durable Goods Orders data. The number of Americans who applied for unemployment benefits rose in late July but remained near the lowest level in decades, mirroring a red-hot labor market that shows little sign of cooling. Initial jobless claims in the period running from July 16 to July 22 increased by 10,000 to a seasonally adjusted 244,000, the Labor Department said Thursday. The average of new claims over the past month, which gives a more stable picture of layoff trends, was unchanged at 244,000.
Separate report on Durable Goods Orders showed that new orders for manufactured durable goods in June increased $14.9 billion or 6.5 percent to $245.6 billion, the U.S. Census Bureau announced. This increase, up following two consecutive monthly decreases, followed a 0.1 percent May decrease. Excluding transportation, new orders increased 0.2 percent. Excluding defense, new orders increased 6.7 percent. Transportation equipment, also up following two consecutive monthly decreases, led the increase, $14.6 billion or 19.0 percent to $91.6 billion.
There will be no major data releases from the UK tomorrow. In the US session Advance GDP data will be published. 2.5% growth is anticipated.
Figures to watch:
Advance GDP (Friday 14:30)
