Initial jobless claims and inflation surged this morning, coming in worse than estimates.

Initial claims rose to 450,000, slightly lower than the revised 460,000 last period but higher than the 436,000 consensus estimate.

Headline CPI rose 0.8% in July, vs. consensus of 0.4%, but lower than last month's 1.1%. Core CPI rose 0.3%, above consensus and in line with June's 0.3%. Inflation remains a serious problem.

Graph courtesy Briefing.com