From the Desk - Economic Commentary
Brandon Casey, Member Strategies - 4/16/2026
U.S. equity markets are modestly lower Thursday morning, giving back a portion of the gains recorded this week. The pullback follows record closing highs on Wednesday for both the S&P 500 and Nasdaq, which finished above the 7,000 and 24,000 levels, respectively, underscoring the market’s recent strength. Attention is also turning to geopolitical developments, with Israel and Lebanon expected to begin talks today, though details surrounding the scope and objectives of the discussions remain limited. Separately, U.S. officials continue to explore the possibility of another round of negotiations with Iran, though no formal timetable has been announced.
Initial jobless claims declined by 11,000 to 207,000 for the week ended April 11, coming in below consensus expectations of 215,000 and remaining within the narrow range that has prevailed for most of the year. The four-week moving average edged slightly higher to 209,750. Continuing claims increased by 31,000 to 1.81 million, suggesting some moderation in hiring activity.
U.S. industrial production declined in March, reversing some of the strength seen earlier in the year. Output at factories, mines, and utilities fell 0.5% month-over-month, compared with expectations for modest growth. Manufacturing output was down 0.1%, while production in the mining and utilities sectors declined more sharply, reflecting both weather effects and higher energy-related volatility. Despite the monthly pullback, total industrial production output still posted growth of 2.4% during the first quarter.
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