US500 waits for another spike in jobless claims

US jobless claims data will be released at 1:30 pm BST. The reading is expected to show another massive increase of 5.5 million, putting combined 4-week claims above 22 million! Surprisingly, US500 gained after each of the past 3 releases (see the table below). Will the situation be similar this time? Note that yesterday's worse-than-expected US data caused stocks to drop.

US500 price levels after recent jobless claims data releases. Index gained after each of the past 3 dismal jobless claims reports. Will it be the same this time? Source: xStation5, XTB Research

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