Initial Claims Come In Better Than Expected, Futures Higher On ADP Report

The July 2 initial claims report came in better than expected, and futures are higher on the back of a better than expected June ADP employment report, as well as lower than expected initial claims.

For the week ending July 2, initial claims came in at 418,000, versus expectations of 425,000. Last week was revised higher to 432,000.

Continuing claims fell to 3.68 million, versus estimates of 3.7 million. Last week's continuing claims wer revised higher to 3.725 million.

At last check, Dow futures were up 65 points, NASDAQ futures were up 16 points, and S&P 500 futures were up 9.40 points.