Consumer confidence remains low, Russian forces are massing at the Ukraine border, the stock market is frothy and China remains weak. Ready for some good news? There was a big drop in US initial filings for jobless claims to 300,000. Furthermore, the lowest number in the last expansion was 282,000, so there’s not much lower that claims can go, say data watchers.
Add on top of that the continued gains in job openings, which rose to more than a six-year high.
Maybe now consumers will start buying more stuff like cosmetics, detergents and fine fragrances.