The Boost from Dips in Claims was Short-lived

Decline in US jobless claims initially boosted stocks and commodities. Gains were pared as the Kansas City Fed survey dropped in August. Trading was thin as the broad sentiment remains fragile and investors prefer to stay sidelined ahead of Bernanke’s speech at Jackson Hole. WTI crude oil price rose for a second day, closing at 73.36 after faltering below 74. Gold, on the other hand, pulled back after soaring to as high as 1246. The benchmark settled at 1237.7, down -0.29%.

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The Boost from Dips in Claims was Short-lived