US jobless claims fell to 255k

US jobless claims fell to 255k, a new cycle low and well below the median estimate of 278k. Holidays and auto-retooling were factors at play. The July average is 274k so far, suggesting the monthly payrolls report will be similar to June's. The Chicago Fed national activity index rose to 0.08, beating expectations and nudging into positive territory for the first time this year. The Kansas Fed manufacturing activity survey improved from -9 to -7 but disappointed expectations of -5. The Conference Board leading index rose 0.6%, beating expectations of 0.3%.