Economic Growth - Q2 GDP revised higher to 38%, representing the fastest economic growth in 2 years [1] - Economy is holding up better than expected [1] Labor Market - Initial & continuous jobless claims lower than expected [1] Housing Market - Home sales higher than expected [1] Inflation - Core PCE marginally higher [1] Market Sentiment - Risk is down [1] Interest Rates - Rates are up [1]

Economic Growth & Indicators - US economy grew at the fastest pace in nearly two years, driven by consumer spending [1] - GDP revised up to 38%, fueled by consumer and business spending [6] - Durable goods orders increased by 29%, primarily due to airplanes, while computer and computer chip orders decreased [4][5] - Jobless claims fell to 218000 [4] Federal Reserve Policy - Fed Governor Stephen Myron suggests the neutral rate is drifting down, requiring policy adjustment to avoid downside risks [2] - Some Fed members, like Austan Goolsbee, are hesitant to frontload rate cuts given the current economic conditions [6] - Jeff Schmitt views the current policy stance as only slightly restrictive and doesn't advocate for rate cuts, citing high inflation and a largely balanced labor market [7] Trade & Tariffs - Trade good balance shows the effect of tariffs, with a deficit of 855 billion due to a significant decrease in imports (over 4%) in July [5]

Economic Data Overview - Recent economic data has shown favorable trends, with GDP revised to 3.8% for the second quarter and personal consumption expenditures increasing from 1.6% to 2.5% [2] - Durable goods orders exceeded expectations, rising by 2.9% instead of the anticipated decline of 0.5%, while core capital goods also increased by 6% [2] Job Market Insights - Jobless claims have improved, dropping to 218,000, which is a positive trend compared to previous weeks where claims were above 260,000 [3] Government Spending and Economic Growth - Despite a decrease in government spending, real final sales to private domestic purchasers increased by 3.2%, and real gross output rose by 1.2% [4] - The economy is showing resilience and growth even as government involvement diminishes [4] Federal Reserve Commentary - There is a wide range of opinions among Federal Reserve speakers regarding the economy and interest rates, with some advocating for lower Fed funds rates [7][8] - Recent comments from Fed Chair Jerome Powell have contributed to market volatility, suggesting that the market may be reacting to perceived high valuations [9] Market Reactions - The market's decline, despite strong economic data, may be attributed to profit-taking and reactions to Fed comments [9]

Labor Market Overview - Initial jobless claims show a significant decrease to 218,000, a drop from a revised 232,000 last month, indicating no immediate firing concerns [1] - Continuing claims are slightly down to 1,926,000 from a revised 1,928,000, suggesting companies are holding steady [1] - The labor market is characterized by low hiring and low firing rates, maintaining a state of equilibrium [3] Wage and Inflation Dynamics - Wage disparities are emerging, with low-wage earners losing ground to high-income workers [5] - Low-income earners, who are most vulnerable to inflation, are experiencing wage stagnation [5] - Wage trends are crucial as they serve as a link between the job market and inflation [4] - Current Fed projections indicate inflation will remain above target for four years and take two years to reach the target [4]

Labor Market Overview - Jobless claims have decreased to 218,000, down from a revised 232,000, indicating no significant firing issues in the labor market [1] - Continuing claims are slightly down to 1,926,000 from a revised 1,928,000, suggesting companies are hesitant to make employment decisions [1] Economic Perception - The current jobless claims data might suggest a strong economy, with a 5% impression of stability, but there are underlying issues that need to be addressed [2] - The labor market is characterized by low hiring and low firing rates, which has been a consistent trend throughout the year [3] Wage Dynamics - Wage growth is uneven across the labor market, particularly affecting low-income earners who are losing ground to higher-income workers [4][5] - Wages are critical in linking the job market to inflation, with projections indicating that inflation will remain above target for the next two years [4]

U.S. initial jobless claims for the week ending September 20 were 218,000, below the expected 235,000, with the prior week's figure revised from 231,000 to 232,000. U.S. Q2 real GDP annualized growth rate (final) was 3.8%, above the expected and previous 3.3%. U.S. Q2 core PCE price index annualized rate (final) was 2.6%, slightly above the expected and previous 2.5%. ...

North Carolina jobless claims data were mistakenly understated in a weekly US Labor Department report on Thursday, as a technical error slashed the state’s tally by more than 19,000 https://t.co/gK2pduDqm0 ...

Labor Market - Initial jobless claims fell to 231,000, below estimates [1] - The previous week's jobless claims were revised up by 1,000 to 264,000 [1] - Continuing jobless claims decreased to 1.92 million from 1.927 million [2] - Texas experienced fraud in jobless claims filings the week prior [1] Economic Indicators - Philadelphia Fed Manufacturing Index jumped to 2320% from 030% [2] - Philadelphia Fed Prices Paid Index dropped to 4680% versus 6680%, indicating inflation improvement [2]

You do get a snap back in jobless claims after the big rise last week, we fall back to 231,000. That's below the estimate. Last week was revised up by a thousand, so it was to 64.But remember, this was all in theory because of fraud in Texas. Texas officials say there were a whole lot of illegal filings the week before, and that looks like it is the case. The ongoing claims number is 1,920,000.That falls from 1,000,009 27. So the jobless claims numbers improved. Take a little bit of that edge off in terms o ...

We'll monitor further comments from the president, but right now, jobless claims in Philadelphia Fed manufacturing data hitting the wires. Rick Santelli standing by with those numbers. Rick.>> Yes. And there's some surprising issues here. Initial jobless claims expected to be 240,000 comes in light.231,000. That'll be the smallest number of initial claims going back to the third week in August. But here's the rub.263,000 last week, a jump at 37,000, and it was highly unexpected. It was said to be an error, ...