Initial Claims Lower Than Expected

Economic Indicators - Initial Jobless Claims for last week were reported at 212K, below the expected 215K, indicating a return to pre-pandemic norms [1] - Continuing Claims stood at 1.812 million, slightly above the previous week's 1.810 million, reflecting stability in the labor market [2] - The April Philly Fed survey reported a surprising 15.5, the highest in two years, surpassing the estimate of 1.5-2.5 and indicating positive manufacturing trends [3] Company Earnings - D.R. Horton (DHI) reported fiscal Q2 earnings of $3.52 per share, exceeding the Zacks consensus of $3.08, with revenues of $9.11 billion beating estimates of $8.27 billion [4] - D.R. Horton raised its full-year revenue guidance by 3.6%, positively impacting its stock price [4] - Netflix (NFLX) is expected to report Q1 earnings with a projected 56% year-over-year earnings growth and a 13.5% increase in revenues [4]