Economic Data Summary - Initial Jobless Claims for last week were reported at 213K, which is 2,000 claims lower than estimated and consistent with a favorable labor market [3] - Continuing Jobless Claims increased to 1.87 million, the highest level since the beginning of the year, but still within acceptable limits as long-term claims remain below 2 million [4] - Q4 Productivity rose by 2.8%, exceeding expectations by 100 basis points, while Unit Labor Costs also increased to 2.8%, the highest since Q2 of the previous year [5] - Import Prices for January were lower than expected, with a headline increase of 0.2%, and year-over-year imports down by 0.1%, marking the lowest print since November of last year [6] - Exports increased by 0.6%, the strongest level since January of last year, although year-over-year growth was lower than expected at 2.6% [7] Oil Market Insights - Oil prices have risen by 2% due to concerns over potential disruptions in the Strait of Hormuz, with West Texas Intermediate (WTI) trading at $78 per barrel and Brent crude at $83 per barrel [9][10]