For the week ending March 15, seasonally adjusted initial jobless claims increased to 223,000, reflecting a 2,000 rise from the previous week.
The prior week's total was revised up by 1,000, from 220,000 to 221,000. Additionally, the four-week moving average climbed to 227,000, marking an increase of 750 from the revised 226,250 recorded the previous week (previously reported as 226,000).
For the week ending March 8, the seasonally adjusted insured unemployment rate remained at 1.2%, showing no change from the previous week. The number of individuals receiving continued unemployment benefits rose by 33,000, reaching 1,892,000. However, the previous week's figure underwent a downward revision of 11,000, bringing it from 1,870,000 to 1,859,000.
The four-week moving average for insured unemployment rose to 1,875,750, reflecting an increase of 6,250 from the previous week's revised average of 1,869,500 (originally reported as 1,872,250).
Source: U.S. Department of Labor
A deepening sell-off in technology and artificial intelligence stocks pressured financial markets, forcing investors to liquidate precious metals holdings to cover losses elsewhere.
Escalating Middle East tensions pushed oil prices higher following a deadly drone strike on Saudi Aramco's Shaybah facility, renewing inflation concerns and expectations for further Federal Reserve tightening.
Rising oil prices renewed inflation concerns as uncertainty surrounding the US-Iran conflict and continued disruptions in the Strait of Hormuz reinforced expectations for further monetary tightening.
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