AP: Unemployment Claims Dip to Pre-Revised 395K Is 'Good News,' Alone

Tom Blumer
August 11th, 2011 9:32 PM
If we're to believe Associated Press reporter Daniel Wagner, this morning's report from the Department of Labor on unemployment claims revealing that initial claims during the week ended August 6 fell to 395,000, was "good news." Why, according to Wagner, that drop, all by itself, it was "enough to catapult stocks," pushing the Dow up by 423 points in Thursday's trading. Uh, not exactly,…