Jobless claims, pending home sales, personal income improved

Fewer American filed the applications for jobless benefits last week, indicating that employers within the country are slowing the pace of firing amid signs of improved economic outlook. According to the Labor Department, the number of jobless claims fell by 9,000 to 346,000 in the week ended June 22, compared with a revised 355,000 a week earlier, however, not reaching analysts' expectations, who called for a 345,000 reading. The less-volatile four-week moving average dropped to 345,750 down from 348,500. Smaller staff reduction mean companies are confident enough that the domestic demand will be sustained as the housing market gained pace, while consumers are more optimistic as well. 

Also Thursday, data showed that a gauge of pending home sales from the National Association of Realtors rose 6.7% in May from the previous month, and gained 12.1% from the same month a year earlier. Even despite increased demand, a shortage of homes available for sales is weighing on the property market this year. Meanwhile, contracts to buy a newly built home surged to a five-year high last month. At the same time, the U.S. consumer spending rebounded in May, recovering from the largest drop in more than three years in the prior month, adding to signs the biggest part of the economy is developing. Household purchases jumped 0.3% from a 0.3% drop in the April.