The preliminary seasonally adjusted initial claims statistic for the week ending December 14 was 220,000, which was 22,000 lower than the revised amount of 242,000 for the prior week. Compared to the previous week's unrevised average of 224,250, the 4-week moving average increased by 1,250 to 225,500.
The seasonally adjusted insured unemployment rate held steady at 1.2% for the week ending December 7, unchanged from the prior week’s unrevised rate. The revised total of 1,879,000 seasonally adjusted insured unemployment claims for the previous week was reduced by 5,000 to 1,874,000 claims for the same week.
The prior week’s figure was revised downward by 7,000, from 1,886,000 to 1,879,000. The 4-week moving average for insured unemployment claims declined by 6,000 to 1,880,250, compared to the revised average of 1,886,250 from the previous week.
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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