Call it a new range, anyhow: 225K-250K, although this morning’s total was actually 2000 claims lower than the bottom end of that. Let’s not get ahead of ourselves, however; these are obviously historically very strong numbers that will likely plateau before making a big swing in either direction. This is especially true before the Trump administration and the GOP-led Congress put together repatriation and infrastructure initiatives that promise to bring even more, and more high-quality, jobs to the domestic economy.
Continuing claims remained right around 2.06 million, where this figure has been for the past several weeks. Prior to that, continuing claims had actually dipped slightly below 2 million for a brief period. Though if new claims numbers stay this low, the longer-term metric is likely to follow over time.
Snapchat Gets Its IPO
Today is the first day that Snap Inc. (SNAP) shares will begin trading, in what is the most anticipated Initial Public Offering event of this short year so far. A social media network that allows messaging to slip into the ether, Snapchat has developed into a preferred mode of communication among younger generations of Americans.
Keeping in mind the massive success of Facebook FB was far from realized at the time of its IPO nearly 5 years ago, there will likely be some naysayers on Snap’s fortunes. Plenty of attention will be given to the company’s plans to grow beyond its current niche, which may keep a cap on upside gains in its inaugural trading day on the Nasdaq exchange. For more on Snap’s big day, click here.
Then again, with a stock market still performing like a red-hot engine — the Dow revved up another 303 points Wednesday and climbs another 26 points in today’s pre-market — perhaps the sky’s the limit for Snapchat investors. If so, this looks like extremely fortunate timing for the newly public company.
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