16 weeks of 400k+ in Initial Claims Snapped

Today's I.C. printed at 398k (consensus of 415k) and is the first week after 16 weeks to print below 400k. It should be noted, as usual the last print of 418k was revised higher to 422k, this is to be expected; I can't recall the last time we had a downward revision.

This seems to be the only support the market s getting. The Chinese rating agency, Dagong (kind of a funny name) says they plan on cutting the US sovereign rating as early as Monday or Tuesday next week.

Is this important news? Dagong it, you decide. Sorry, I couldn't resist.