Here come initial jobless claims ...

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Unemployment line

REUTERS/Shannon Stapleton

The weekly report on initial jobless claims is set for release at 8:30 am ET.

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Expectations are for initial claims to total 295,000, down from last week's 313,000, which was higher than expected.

With the snow in Washington, DC this morning, there is potential for the report to be slightly delayed.

This is the last piece of labor data before Friday's big Jobs Report.