INITIAL CLAIMS DROP TO 348K, BEATING EXPECTATIONS

UPDATE: Initial claims fell to 348K, beating expectations for a slighter drop to 350K.

Continuing claims rose to a better than expected 3352K (versus an estimated 3380K) from 3343K last week.

Some important changes to revisions though—initial jobless claims for last week were revised higher slightly to 353K, and continuing claims were revised up 3361K.

ORIGINAL: Initial jobless claims for the week of March 17 come out at 8:30 AM EST.

Analysts surveyed by Bloomberg are expecting claims to fall very slightly, from 351K last week to 350K.

Last week, the number of jobless claims unexpectedly fell, bolstering confidence in the string of positive economic data recently.

Surprisingly strong jobs growth has been one of the primary indicators coming in well above expectations so far this year, but investors question the influence of an unseasonably warm winter on the sustainability of this trend.

ROSENBERG: 'Over 40% Of Job Growth In January And February Was Weather-Related' >

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