Reading the news today might be a downer, if you like happy, rosy pictures. Dominating the headlines is Donald Trump vs Kim Jong Un, who seem caught in a battle of one-upmanship. Korea’s leader saying his country is actively planning to nuke a US territory doesn’t give the market any warm & fuzzy comfort, that’s for sure.
Against that backdrop, this morning’s announcement that the US new unemployment claims number crept up seems insignificant. But let’s not overlook the fact. Gee whiz, 244,000 is almost a quarter million people losing their jobs — doesn’t that seem like a lot? In fact, most outlets are reporting the increase as “within expectations” during a recovery.