Jobless Claims Fall to 385,000

Tomorrow is the big jobs report. This morning, we got a few more pieces to the puzzle.

First up, the ADP private payroll report said that 978,000 jobs were added in May. That’s a huge increase. However, the ADP report doesn’t always match the official figures from the government.

In the other report, weekly unemployment claims fell to 385,000. That’s another pandemic low and it was below forecasts.

The ISM Services Index came in at 64.0. That’s the highest since 1997.

Also today, shares of AMC (AMC) have been halted. The company announced plans to sell 11 million shares. The stock plunged and the exchange halted trading. Yesterday, AMC traded 761 million shares. There are only 450 million shares outstanding.

Posted by on June 3rd, 2021 at 10:13 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.