TechFlow News, June 4: For the week ending May 30, the U.S. seasonally adjusted initial jobless claims totaled 225,000—higher than the expected 213,000 and the revised prior figure of 212,000—marking the highest level since the first week of February. The four-week moving average stood at 214,750, up from last week’s 208,250.
Continuing jobless claims amounted to 1.777 million, slightly below the expected 1.780 million. The rise in initial claims suggests a modest softening in labor market conditions, though they remain relatively low and stable. Continuing claims edged lower.
Note that continuing claims data are reported with a one-week lag; thus, next week’s continuing claims figures will correspond to this week’s initial claims data. Pre-market trading on U.S. equities showed mixed results: Dow Jones futures rose 1%, S&P 500 futures fell 0.22%, and Nasdaq futures declined over 1%. U.S. Treasury yields declined: the 2-year yield stood at 4.039%, down 4.5 basis points; the 10-year yield was at 4.455%, down 3.8 basis points; and the 30-year yield reached 4.960%, down 3.0 basis points. (Jinshi)
