UPDATE: The latest initial jobless claims data are out.
We will have the full release here momentarily.
ORIGINAL: Heads up! The economic data is about to get started fast and furious in the United States this morning.
We are minutes away from the first of five data points to be released – weekly jobless claims figures, due out at 8:30 AM ET.
Economists predict initial claims fell to 345,000 in the week ended May 18 after spiking to 360,000 the week before.
Continuing claims for the week ended May 11 are expected to have edged down slightly to 3.000 million from 3.009 million in the previous week.
And if there's one thing we learned from Federal Reserve Chairman Ben Bernanke's testimony before Congress yesterday, it's that the outlook for tapering back quantitative easing – one of the biggest existential threats markets currently face – is completely dependent on developments in the data, and specifically, the labor market data.
We will have the full release LIVE at 8:30 AM ET. Click here to refresh for the latest >
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