Here come initial jobless claims ...

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

Expectations are for claims to total 290,000 for the week ended January 31.

The week prior, claims totaled 265,000, the lowest weekly total in 15 years.

This is the last piece of labor market data before Friday's big January jobs report.

We'll be back with the live numbers when they hit.