Jobless Claims Increase to Eight Month High
Jobless claims increased to an eight-month high, corresponding with a drop in stock prices and a slight gain in the dollar's value.
Initial claims for unemployment rose 43,000 to 474,000, the Labor Department reported Thursday. Economists questioned by Reuters had put the estimated figure at around 410,000. Claims are at their highest level since August.
Meanwhile, the dollar strengthened against several different global currencies, as its index rose .5%.
Gold and silver figures were down as well, in response to a nationwide pullback of commodities.