Economists polled by Reuters had forecast new claims would rise to 234,000 in the latest week.
The latest inflation data for the United States has been released
US inflation was 3.1% in November, in line with estimates from economists polled by Reuters. One of the big drivers in the slowdown for inflation was a dramatic drop in energy prices. Per the report, gas prices fell 6% over the month and are down nearly 9% from a year ago.
Over the month, the Consumer Price Index increased by 0.1% between October and November after seasonal adjustment.
U.S. stocks closed at fresh highs of the year on Tuesday, after inflation data did little to alter views for the timing of a rate cut by the Federal Reserve․ Investors have revised their expectations, with the probability of the Fed reducing interest rates by 25 basis points in March declining from 50% to 43.7%.
US stocks ended higher, with the S&P 500 rising 0.5 per cent to its highest closing level since January 2022, Dow rose, 0.48%, Nasdaq ended up with 0.70% higher.
This page was last updated 13.12.2023 09:00