After reporting decreases by first-time claims for U.S. unemployment benefits over the two previous weeks, the Labor Department released a report on Thursday showing a modest rebound by initial jobless claims in the week ended August 17th.
The report said initial jobless claims rose to 232,000, an increase of 4,000 from the previous week’s revised level of 228,000.
Economists had expected jobless claims to inch up to 230,000 from the 227,000 originally reported for the previous week.
Meanwhile, the Labor Department said the less volatile four-week moving average edged down to 236,000, a decrease of 750 from the previous week’s revised average of 236,750.
At 10 am ET, the National Association of Realtors is due to release its report on existing home sales in the month of July. Existing home sales are expected to rise to an annual rate of 3.93 million in July after plunging to a rate of 3.89 million in June.
The Treasury Department is scheduled to announce the details of this month’s auctions of two-year, five-year and seven-year notes at 11 am ET.