Wall Street ends lower after Fed minutes cloud outlook for rates
Wall Street ended lower on Wednesday after the Federal Reserve's minutes showed central bank officials were divided over the need for more interest rate hikes at their last meeting.
US jobless claims hit lowest level since February
The number of Americans seeking jobless benefits for the first time fell unexpectedly last week to the lowest since February.
Initial claims for state unemployment benefits fell to 216,000 in the week ended Sept. 2, the Labor Department said on Thursday.
Economists polled by Reuters had forecast new claims would rise to 234,000 in the latest week.
Meanwhile, the rolls of those continuing to receive jobless benefits beyond the first week fell sharply to 1.679 million from a revised 1.719 million a week earlier.
U․S. unemployment rate unexpectedly rose to 3.8%
The unemployment rate was 3.8%, up significantly from July and the highest since February 2022.
The US economy grew stronger than expected in the third quarter
Gross domestic product grew at an annualized 4.9% rate in the third quarter.
This page was last updated 08.09.2023 00:00
