GDP revised to -6.3%, jobless claims tick higher

We got the final update on fourth-quarter GDP this morning. The government now says GDP dropped 6.3% in the fourth quarter, upwardly revised from the previous reading of -6.2% but below forecasts for a reading of -6.6%.

On the other hand, initial jobless claims rose from a revised 644,000 to 652,000 in the week of March 21. That was ever-so-slightly above forecasts. Continuing claims ramped up yet again -- to 5.560 million from 5.438 million a week earlier and far above forecasts for a reading of 5.475 million.

Markets didn't show much of an early reaction. Bonds rose a bit off their lows, while stocks gave up a couple ticks. But that's about it so far.