The Fed minutes also note that "a couple" members wanted a 50 basis point cut, based primarily on the weak inflation readings.The Fedread more
Market focus is largely attuned to the Federal Reserve, with the U.S. central bank scheduled to publish its latest meeting minutes.Bondsread more
Federal Reserve members worried over future growth are highly concerned about the U.S.-China tariff battleThe Fedread more
President Trump and Apple CEO Tim Cook have had a rocky relationship in recent years, but Trump is now complimenting the executive publicly.Technologyread more
President Donald Trump signed a memorandum on Wednesday to automatically cancel the student loan debt of disabled veterans. More than 25,000 service members will have their...Personal Financeread more
Here's what Nordstrom reported in their fiscal second-quarter earnings.Retailread more
Corporate debt recently passed the $1 trillion mark in a continuing sign of global financial displacement.Marketsread more
"Federal debt, which is already high by historical standards, is on an unsustainable course," CBO director Phillip Swagel said in the report.Politicsread more
The president's remark followed a string of criticisms aimed at his predecessors, whom he claimed had ignored China's alleged malpractice on trade.Politicsread more
President Trump liked Germany's sale of no-interest, 30-year bonds Wednesday, but investors weren't so eager to buy them.Market Insiderread more
SunTrust Robinson Humphrey analysts said in a research note the "Off-Facebook Activity" feature "appears to fall somewhat short of the original pledge by CEO Zuckerberg of...Technologyread more
WASHINGTON, Aug 8 (Reuters) - The number of Americans filing applications for unemployment benefits unexpectedly fell last week, suggesting the labor market remains strong even as the economy is slowing.
Initial claims for state unemployment benefits declined 8,000 to a seasonally adjusted 209,000 for the week ended Aug. 3, the Labor Department said on Thursday. Data for the prior week was revised to show 2,000 more applications received than previously reported.
Last week's drop in claims pushed them to the lower end of their 193,000-244,000 range for this year. Economists polled by Reuters had forecast claims would be unchanged at 215,000 in the latest week. The Labor Department said only claims for Idaho were estimated last week.
The four-week moving average of initial claims, considered a better measure of labor market trends as it irons out week-to-week volatility, edged up 250 to 212,250 last week.
Claims will be watched over the coming weeks for signs that deteriorating trade relations between the United States and China, which have dimmed the economy's outlook and roiled financial markets, were spilling over to the labor market.
Concerns over the impact of the bitter trade war between Washington and Beijing on the U.S. economic expansion, the longest on record, prompted the Federal Reserve to cut interest rates last week for the first time since 2008.
With tensions between the two economic giants escalating in recent days and recession risks rising, financial markets have fully priced in another rate cut next month. Expectations for a 50-basis-point cut at the Fed's Sept. 17-18 policy meeting have also risen.
While hiring has slowed, the pace of job gains remains well above the roughly 100,000 needed per month to keep up with growth in the working-age population.
Nonfarm payrolls increased by 164,000 jobs in July, down from 193,000 in June. Job growth over the last three months averaged 140,000 per month, the lowest in nearly two years, compared to 223,000 in 2018. The moderation in employment growth partly reflects a shortage of workers.
The economy grew at a 2.1% annualized rate in the second quarter, slowing from the first quarter's brisk 3.1% pace. Growth is seen below a 2.0% rate in the July-September quarter.
Thursday's claims report also showed the number of people receiving benefits after an initial week of aid dropped 15,000 to 1.68 million for the week ended July 27. The four-week moving average of the so-called continuing claims fell 11,000 to 1.69 million. (Reporting by Lucia Mutikani Editing by Paul Simao)