Is the Fed Watching Initial Jobless Claims?

Mike Wilson: I was really happy to see that gap between what the Fed is telling us and what the market was expecting close. Initial jobless claims too, if something I keep a close eye on, I think weakness in the labor market is going to be one of the last shoes to drop. He says we have a very real risk of a recession, a mild recession, but a realrisk of a recession in the second half of this year. Mike Wilson: The equity market has one last stand before we fully priced the earnings downside.