The market was quite today as traders and investors are waiting for next week’s FOMC decision. Jobless claims totaled 462,000 for the week of March 6th. Last week the initial jobless claims fell 29,000 to 469,000 for the week of February 27th. The 4-week moving avenge is currently rose to 475,500 from 470,500 from last week.
- A lower jobless claims number means a stronger job market and a healthier economy.
- A higher jobless claims number means a weaker job market and a declining economy.
- A 4-week moving average gives a better perspective on the jobless claims trend.
Natural gas in storage fell 111 billion cubic feet for the week of March 5th. Last week natural gas futures declined 4% after the government reported supplies fell 116 bcf than the previous week.
