At 8:30 a.m. ET, we'll get the latest weekly tally of initial jobless claims.
Economists estimate that first-time unemployment insurance claims increased by 10,000 to 265,000 last week, according to Bloomberg.
Last week's four-week moving average fell to 265,000, the lowest level since 1973.
In a preview to clients, HSBC noted that the slow pace of layoffs suggests that businesses remain confident in the economic outlook.
We'll be back with the latest details once the data cross.