S&P 500 testing notable support

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US jobless claims, as expected

On the wires today, US jobless claims came in as expected for the week ending 25 November at 218,000. The 218k print was higher than the prior week (ending 18 November), revised slightly higher to 211,000. Continued jobless claims, or the insured employment rate, was 1.927 million, a whisker above the estimated range high of 1.92 million, marking an 86,000 increase from the previous print. The US Department of Labor communicated, ‘This is the highest level for insured unemployment since November 27 2021, when it was 1,964,000. The 4-week moving average showed a small decrease of 500, down to 220,500.