Weekly US jobless claims edge past forecasts

Initial US jobless claims increased by 4,000 to 248,000 during the week ending on 6 July, according to the Bureau of Labor Statistics.

Economists had forecast a reading of 240,000.

The previous week's reading was unrevised at 244,000.

The four-week moving average, which aims to smmothe out the fluctuations in the data from one week to the next, rose by 750 to 243,000.

Secondary unemployment claims, those which are not filed for the first time and referencing the prior week, increased by 11,000 to 1.956m.