TechFlow news, on August 8, according to Jinshi Data, fresh labor data eased concerns about an economic collapse, with initial jobless claims declining and remaining within a narrow range seen over recent months, indicating businesses are retaining workers. "A cooling labor market does not mean we are entering a recession," said Skyler Weinand of Regan Capital in a report.
He added that the declines in stock prices, Treasury yields, and the U.S. dollar following last Friday's disappointing July employment report were overstated. Despite recent calls for aggressive monetary easing, the current economic backdrop still leaves room for the Federal Reserve to hold steady—and markets have already fully priced out such a possibility. He advised maintaining calm.
Previous report, the number of initial jobless claims in the U.S. for the week ending August 3 came in at 233,000, the lowest since the week of July 6.
