US Jobless Claims Rise

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By David Spurr on March 26, 2009 | More Posts By David Spurr | Author's Website

Unemployment claims continued to rise on a seasonally adjusted basis. The more disturbing number is that the number of people on the rolls is now over 5mm vs 2.8mm a year ago - that is almost twice the number of people receiving benefits from the government.

The stock markets are poised to open higher this (Thursday) morning after a rollercoaster day yesterday. There is a certain amount of window dressing going on into the end of the quarter. The short-term uptrend that began on 3/6/09 is still firmly in place; it has not broken down.

Yesterday afternoon’s late day selloff create some doubt about the sustainability of the rally.

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