U.S. Economic Indicators

Initial jobless claims fell 10,000 to 202,000 last week, the lowest level in 50 years. The four-week moving average fell 4,000 to 213,500. DOL Report

U.S. News

According to the Wall Street Journal, a new IMF study found that, if enacted, 25% tariffs on Chinese imports to the U.S. coupled with Chinese retaliatory tariffs on U.S. goods would lower U.S. GDP by 0.3%-0.6% and China’s GDP by 0.5%-1.5%. The report noted that while global growth would decline overall, certain regions—including Mexico, Canada, Europe, and parts of Asia—would benefit in the short run from trade diverted through their economies. WSJ