Group 1 - Initial jobless claims in the Philadelphia Fed manufacturing data came in at 231,000, lower than the expected 240,000, marking the smallest number of initial claims since the third week of August [1] - Last week's claims were revised upward to 264,000, which was unexpected and attributed to an error in Texas, leading to a reassessment of the labor market [2] - Continuing claims decreased to 1,920,000, down from a revised figure of 1,927,000, indicating a slight improvement in the labor market [3] Group 2 - The Philadelphia Fed business outlook for September showed a strong reading of 23.2%, the best level since January and the second-best number of the year [4] - The increase in jobless claims and the strong business outlook suggest mixed signals in the economy, with rates moving higher [4]