Jobless Claims Come in Higher

Economic Indicators - Initial Jobless Claims reached 240K last week, the highest in a month and 10K above consensus estimates, indicating potential softening in the labor market [3] - Continuing Claims hit 1.919 million, the highest since November 2021, suggesting an increase in long-term jobless claims [4] - Q1 2025 GDP was revised to -0.2%, improving from the first read and better than the expected -0.4%, with consumption decreasing from +1.8% to +1.2% [5] Inflation and Consumer Spending - The Pricing Index for Personal Consumption Expenditures (PCE) reached +3.7%, in line with expectations, while the Core Pricing Index was +3.4%, the highest since Q1 2024 [6] Company Earnings Reports - Best Buy (BBY) reported Q1 earnings of $1.15 per share, exceeding expectations of $1.09, with revenues of $8.77 billion, but cut guidance due to tariff conditions, leading to a -3% pre-market sell-off [7] - Kohl's (KSS) reported a loss of -$0.13 per share, better than the expected -$0.22, with revenues of $3.23 billion surpassing estimates by +0.88%, and maintained forward guidance, resulting in a +7% pre-market increase [8]