Dead Cat bounce? Well, if Jobless claims come in less then 310k then that signals strength in the economy and therefore they'll want to keep raising rates maybe even a second time in August so guess what? Market will drop further. This is the leg up which could be short lived based on the news today that core inflation rose again.
Consensus are expecting 320k jobless claims tommorrow. I said 310 or less because 310-330 is in line and the market might like that. Anything above 330k claims then the market should go higher.
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