HERE COMES INITIAL JOBLESS CLAIMS...
Economists are looking for a reading of 335,000, up from 326,000 a week ago.
Last week's reading was a 5-year low.
Some economists warned that the number was riddled with seasonal adjustments.
Still, the level and direction are encouraging.
"If anything, claims are point to an accelerating trend in employment growth," said High Frequencey Economics' Jim O'Sullivan. "There is certainly no sign yet of an uptrend in claims, even if last week's 19k plunge is discounted."
"Following that plunge, we are forecasting a 14k rise this week, although the strength in the ISM indexes in July has raised the probability that last week's decline in claims was not just due to noise.