Jobless Claims Drop In Welcome Reprieve, As Stimulus Talks Ongoing

712,000 Americans filed for unemployment benefits last week, far fewer than expected, marking a welcome reprieve after two consecutive weeks of disconcerting figures. The market was expecting 775,000. Last week's level, which marked a five-week high when it was first reported, was revised up by 9,000 to 787,000. The latest initial claims print brings us back to within shouting distance of the pre-pandemic record, which isn't saying much -- that we're now nine full months into the crisis and cl