Weekly Jobless Claims Drop to 213K, Productivity Up 2.8%, Senate Approves Strike Authority
Weekly initial jobless claims registered 213,000, while Q4 productivity jumped 2.8% and unit labor costs increased 2.8%, suggesting mixed pressure on margins for the Nasdaq-100 ETF. West Texas Intermediate and Brent crude advanced to $78 and $83 per barrel as the Senate approved expanded strike authority in a 53-47 vote.
1. Employment and Productivity Data
Initial jobless claims fell to 213,000 last week, 2,000 below estimates, while continuing claims rose to 1.87 million—the highest since early January but still below concerning levels. Q4 productivity surged 2.8%, following a revised 5.2% gain in Q3, reflecting stronger output alongside reduced hours worked.
2. Input Costs and Oil Prices
Unit labor costs climbed 2.8%, the highest since Q2 last year, potentially squeezing corporate margins. Import prices rose 0.2% month-over-month and export prices climbed 0.6%, as WTI crude reached $78 per barrel and Brent hit $83 per barrel on heightened geopolitical risk.
3. Senate Expands Strike Authority
The U.S. Senate voted 53-47 to block a resolution limiting presidential military action in Iran, effectively broadening strike authority. This decision may elevate risk premiums and foster volatility across equity markets, including the Nasdaq-100 ETF.