Here come initial jobless claims ...

The latest weekly data on initial jobless claims are set for release at 8:30 a.m. ET.

The number of first-time claims for unemployment insurance benefits is expected to total 275,000 for last week, according to economists polled by Bloomberg.

That's a drop from 282,000 recorded in the prior period, which was in line with expectations.

Here's a preview from HSBC economists: "Weekly initial jobless claims have trended lower for much of this year. However, last week's reading rose to 282,000, the highest level since July. Jobless claims are sometimes more volatile towards the end of each calendar year due to holidays and seasonal fluctuations."

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