US jobless claims decreased by 5000 to 343000 - Nirmal Bang

US jobless claims decreased by 5,000 to 343,000 in the week ended June 29 from a revised 348,000 in the prior period that was higher than initially reported. The Bloomberg survey median called for 345,000 claims. Separate reports showed companies boosted employment by 188,000 workers in June while service industries unexpectedly expanded at the slowest pace in more than 3 years.

The trade deficit in the U.S. unexpectedly jumped in May as imports climbed to the second-highest level on record, pointing to an economy that is overcoming higher taxes and government cutbacks. The gap widened by 12.1% to $45 bn from $40.1 bn in April, Commerce Dept figures showed. The median forecast called for a $40.1 bn deficit.

U.K. services growth unexpectedly accelerated to its fastest pace in more than 2 yrs in June in a sign the recovery is gaining strength. An index of activity rose to 56.9 from 54.9 in May. Economists had forecast 54.5 in June, according to Bloomberg.

China's benchmark money-market rate dropped for a 10th day, the longest stretch in almost 14 months, as the central bank refrained from draining funds from the financial system in the wake of the worst cash crunch on record.

Source : Equity Bulls

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