Stock futures are rallying for some strange reason, though the morning's plate of economic data was sort of ugly.

Jobless claims came in at 409,000, just a little higher than the 407,000 economists expected. The prior week's claims were revised up, as they always are, to 421,000 from 417,000. This level of claims is really too high and indicates the job market isn't healthy, even if it's not quite on its deathbed.

Second...