From the Desk - Economic Commentary
Brandon Casey, Member Strategies - 7/10/2025
U.S. stocks opened higher Thursday but have since given back some of those gains. Both the Nasdaq and S&P 500 are now down in early trading, though the Nasdaq did reach a new record high before turning negative. Stocks are coming off a winning session on Wednesday, with both the DJIA and S&P 500 posting their first winning session of the week. The FOMC minutes yesterday showed that most Fed officials thought rate cuts were on the horizon, though there was little consensus on how many cuts would take place.
Looking at economic data today, initial jobless claims fell by 5,000 to 227,000. Initial claims had been expected to increase to 235,000. Continuing claims increased by 10,000 to 1.965 million, the highest level since November 2021.
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