From the Desk - Economic Commentary
Scott Goedken, Institutional Strategies Director - 10/08/2026
Initial jobless claims totaled 197,000 for the week ending October 3, down from the prior week's revised reading of 199,000 and below expectations for 200,000 claims. Claims have remained below 200,000 for four consecutive weeks and continue to run near historically low levels. Continuing claims increased to 1.716 million from a revised 1.699 million and remain within the range reported over the past month.
U.S. equity markets are lower this morning, while Treasury yields have moved higher following comments from Christopher Waller that additional rate increases may be needed to return inflation to the Federal Reserve's target.
WTI crude oil is up roughly 4% and is trading near $92 per barrel. Crude prices have been supported by attacks on tankers in and around the Strait of Hormuz and production disruptions in the Gulf of Mexico associated with Hurricane Isaias. Despite today's advance, WTI remains approximately 14% below its September 14 intraday high of $106.75.
Subscribe to our daily From the Desk newsletter to get economic commentaries and updated market rates sent directly to your inbox.
Subscribe Here