HERE COME JOBLESS CLAIMS DATA...

The Department of Labor will weekly release initial jobless claims data at 8:30 a.m.

Consensus estimate is for a reading of 304,000, up slightly from 302,000.

Continuing claims are expected to hit 2,512,000, down from 2,539,000 prior.

"...Both initial and continuing jobless claims are well below their average of the non-recessionary period of the previous economic cycle (2002-2007)," Deutsche Bank's Carl Riccadonna said in a note Wednesday. "Initial claims were 302k last week compared to an average of 353k in the prior cycle, and continuing claims last printed 2539k versus an average of 2957k. The ongoing, sharp declines in these series hint of an imminent reacceleration in hiring."

Here's what it's looked like recently: