From the Desk - Economic Commentary
Brandon Casey, Member Strategies - 6/2/2026
U.S. equity markets are slightly lower Tuesday morning as investors continue to monitor developments between the U.S. and Iran. All three major averages reached record highs on Monday. Oil prices rose over 5% on Monday after Iran said it was stopping negotiations with the U.S. until Israel stopped attacking Lebanon and Gaza. President Trump said last night that he had a productive talk with the Israeli Prime Minister.
The April JOLTS report showed an increase in labor demand, with job openings rising to 7.6 million, up 731,000 from the prior month. The job openings rate climbed to 4.6%, indicating some renewed demand for workers. At the same time, hiring activity moderated, with total hires declining to 5.1 million (down 419,000), while total separations fell to 5.0 million. Within separations, quits held steady at 3.0 million, suggesting stable worker confidence, while layoffs and discharges remained largely unchanged at 1.7 million.
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