The U.S. Labor Department released the Initial Jobless Claims for the week ending May 14, where the index eased to 409 thousand compared to the prior revised estimate of 438 thousand and better than expected estimate of 420 thousand.

while continuing claims for the week ending May 7, came in lower than expected at 3.711 million compared to the prior revised of 3.792 million, and also better than median estimates of 3.728 million thousand.