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Thursday
May122011

A Busy Day For Economic Data

It's going to be a busy day for economic data today.  As shown below, there are seven economic indicators scheduled for release.  The most important of the seven is likely to be initial jobless claims. Last week's higher than expected claims number helped to contribute to a one day decline of nearly 1% in the S&P 500.  While some argued that the claims number was due to weather and the late Easter holiday, traders will need to see proof of that in this week's numbers.  Remember that the last four weeks of jobless claims have been higher than expected.

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