From the Desk - Economic Commentary
Brandon Casey, Member Strategies - 6/4/2026
U.S. equity markets are mixed this morning as chip stocks are under pressure after disappointing guidance. The DJIA is up nearly 1.5%, the Nasdaq is lower, and the S&P 500 is little changed. All three major averages were down on Wednesday, which put the S&P 500 lower for the week, threatening its nine-week winning streak.
Labor market conditions showed modest softening in the latest weekly data, though overall trends remain stable. Initial jobless claims increased to 225,000 for the week ending May 30, rising 13,000 from the prior week and coming in above expectations of 213,000, marking the highest level since February. The four-week moving average edged higher to 214,750, indicating a slight upward trend in claims. Meanwhile, continuing jobless claims declined by 8,000 to 1.777 million for the prior week.
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