Stocks roared out of the gate as it was risk-on in overnight trading which spilled over into early trading. Treasury yields were slammed back to their highs of the last three days where buyers have been holding.
Initial claims rose to +351k and total claims, including all forms of Pandemic Unemployment Assistance, fell -856k to 11.250 million.
The Chicago Fed National Activity Index slowed to 0.29 showing the national economy expanded at an above-trend rate in August.
The preliminary Markit Composite PMI expanded at a slightly slower rate to 54.5 with the preliminary Manufacturing PMI expanding at a slightly slower rate at 60.5 and the preliminary Services PMI expanding at a slightly slower rate at 54.4.
The U.S. Leading Index rose +0.9% in August indicating the economy expanding at a slightly faster pace than the prior month.
Stocks and Treasury yields closed higher on the day.