From the Desk - Economic Commentary
Scott Hofer, Member Strategies Manager - 2/26/2026
U.S. equities opened flat this morning after a strong close Wednesday. Yesterday’s gains were driven by renewed optimism in the tech industry. However, tariff uncertainty, fears of AI disruption and broader global risk sentiment continue to weigh on investors’ minds. On the economic data front, the latest U.S. jobless claims report shows that initial unemployment filings rose slightly, increasing by 4,000 to a seasonally adjusted 212,000 for the week ending February 21, 2026, according to the Labor Department. Despite the uptick, claims remain low by historical standards and came in below economists' expectations of 217,000, signaling continued stability in the labor market. Continuing claims, a proxy for ongoing unemployment, fell by 31,000 to 1.833 million, marking one of the lowest levels in the past ten months and suggesting that fewer unemployed workers are remaining on benefits for extended periods. Overall, the data indicates a labor market that has largely regained its footing, even as businesses remain cautious amid tariff-related uncertainty and broader economic adjustments.
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