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Philly Fed and initial jobless claims coming up

The week is breezing by but nerves are increasingly frayed after 4 consecutive declines in US equities. Today’s highlight is the duo of the Philly Fed (shown above) and initial jobless claims, both at the bottom of the hour.

There are sign of softening in the US jobs market but that hasn’t shown up yet in claims. Could today be the day? The consensus is 215K, up from 211K last week.

Later we get existing home sales at 10 am ET and a 5-year TIPS auction. The Fed calendar includes Williams at 9:15 am ET and Bostic at 11 am ET.

After the close, we get earnings from Netflix.

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