Initial Claims Increased Slightly More Than Expected

Group 1: Jobless Claims - Initial Jobless Claims for last week were reported at +221K, slightly above expectations and the revised +218K from the previous week, indicating a stable employment picture [2] - Continuing Claims reached 1.892 million, close to the 1.9 million mark, with the previous week's figure revised down from 1.86 million to 1.853 million, suggesting a tightening in longer-term claims [3] Group 2: Earnings Reports - UnderArmour (UAA) reported earnings of 30 cents per share, exceeding the 19-cent estimate, resulting in a +57.9% positive surprise, with revenues of $1.4 billion slightly above expectations [4] - Moderna (MRNA) achieved a positive earnings per share of +$0.03, a significant surprise compared to the estimated -$1.89, with revenues of $1.86 billion, +47.7% above estimates [5] - Planet Fitness (PLNT) posted earnings of 64 cents per share, surpassing the expected 58 cents, and revenues of $292.25 million, +3% above estimates, contributing to a +7.5% increase in shares [6] Group 3: Market Expectations - The Federal Open Market Committee (FOMC) is expected to announce a 25 basis points cut in the Fed funds rate, bringing it to 4.50-4.75%, the lowest since March 2023 [8]