TraderWise

Yesterday, the market chopped around for most of the day after a huge run-up Wednesday. That was an encouraging sign for bulls. By late afternoon, the market rallied and it closed on its highs. Earlier in the day, initial jobless claims came in slightly better-than-expected and optimism ahead of the Unemployment Report surfaced. Even though 472,000 jobless claims were filed, traders were relieved that new claims have stopped rising. In recent weeks, initial jobless claims have spiked higher and that trend has stalled.