Initial jobless claims come in ahead of expectations

Americans filed new claims for unemployment benefits at an elevated clip in the seven days ended 9 April, according to the Labor Department.

Initial jobless claims rose by 18,000 to 185,000, above market expectations for a print of 171,000 but generally close to the previous week's revised print of 167,000 - the lowest since 1968.

On a non-seasonally adjusted basis, initial claims were up 28,151 week-on-week at 222,545, with notable increases in Missouri, Michigan, California, and Indiana, while the four-week moving average, which aims to strip out week-to-week volatility, came in at 172,250 - an increase of 2,000 from the previous week's revised average