The latest weekly numbers on initial jobless claims are due at 8:30 a.m. ET.
Economists forecast that first-time filings for jobless claims totaled 270,000 last week, according to Bloomberg. That would be down from a spike in the prior period to 274,000.
But the four-week moving average, which sorts out some of the weekly volatility, is near multi-decade lows at 258,000.
Deutsche Bank's Joe LaVorgna noted that 60% of the increase in claims last week was from Michigan and Ohio. That period also coincided with the temporary idling of several GM plants.
"In turn, barring any further unusual shutdowns by other auto producers, we expect claims to reverse much of their recent rise over the next couple of weeks," LaVorgna wrote.
The series is in an amazing streak right now; it has not crossed the 300,000 mark for 15 months.
We'll have the latest data at the bottom of the hour, so refresh this page for updates.