Here comes initial jobless claims...

Initial jobless claims are expected to have climbed to 267,000 last week, up from the prior reading of 259,000, according to economists surveyed by Bloomberg.

The 4-week moving average is at 267,000.

Claims have been below 300,000 for 67 straight weeks - the longest streak since 1973.

After the disappointing May jobs report, traders are paying close attention to the weekly claims data in an effort to try and gauge whether or not the weak reading was just a one off, or the start of a more worrying trend.