Here come initial jobless claims ...

The latest weekly data on initial jobless claims are set for release at 8:30 a.m. ET.

Economists estimate that there were 280,000 first-time filings for unemployment insurance last week, down 5,000 from the prior period, according to Bloomberg.

It's the only data release we'll get Thursday, as global markets sell off, and ahead of the second day of Janet Yellen's semi-annual testimony in Congress.

The claims numbers, which have remained under the key 300,000 level since last March, will give markets more insight into the health of the labor market.

We'll have full details at the bottom of the hour, so refresh this page for updates.

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