US Initial Jobless Claims Drop to 187,000, a Level Not Seen Since the Late 1960s

MacroGeopoliticsCommodity Impact 5
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Summary · why it matters

Initial jobless claims fell to 187,000 for the latest week, well below the expected 212,000 and the prior week's slightly upwardly revised 209,000, reaching lows not seen since the late 1960s. Continuing claims came in at 1.796 million, below the downwardly revised 1.798 million from the previous week and the lowest print since the week of May 30th. The data arrived amid a sharp pre-market selloff driven by rising Middle East tensions, with the Dow down 560 points, the S&P 500 off 83 points, and the Nasdaq dropping 450 points. WTI oil prices rose over 4% to above $91 per barrel and Brent crude gained over 5% to nearly $100 per barrel following hostilities in the Strait of Hormuz involving Yemeni Houthis and US air strikes in Iran. In earnings, American Airlines posted a 400% positive earnings surprise to $0.15 per share on revenues of $16.74 billion, T-Mobile US beat by 25.7% to $3.13 per share on revenues of $22.79 billion, Blackstone surpassed estimates by 14.3% to $1.52 per share on revenues of $3.8 billion, and Lockheed Martin shares rose 5.5% after beating earnings estimates by nearly 10% to $7.94 per share on revenues of $20.06 billion.

Impact on stocks 7

Industrials · 2 stocks
American Airlines Group
AAL
▲ PositiveCapitalrelevance

American Airlines posted a 400% positive earnings surprise to $0.15 per share on revenues of $16.74 billion.

Artificial Intelligence · 2 stocks
Blackstone Group Inc
BX
▲ PositiveCapitalrelevance

Blackstone surpassed estimates by 14.3% to $1.52 per share on revenues of $3.8 billion.

Defense & Geopolitical Fragmentation · 1 stocks
Lockheed Martin Corporation
LMT
▲ PositiveCapitalrelevance

Lockheed Martin shares rose 5.5% after beating earnings estimates by nearly 10% to $7.94 per share on revenues of $20.06 billion.

Cloud & Digital Infrastructure · 1 stocks
T-Mobile US Inc
TMUS
▲ PositiveCapitalrelevance

T-Mobile US beat by 25.7% to $3.13 per share on revenues of $22.79 billion.

Semiconductors · 1 stocks