U.S. Economic Indicators

Initial jobless claims fell 8,000 to 211,000 last week. The four-week moving average rose 250 to 215,250. DOL Report

U.S. News

According to a recent Wall Street Journal survey, economists are roughly split over whether the recent hiring slowdown is primarily due to a shortage of workers or a softening demand for labor. About 45% of respondents blamed the slowdown on the tightness of the labor market and employers’ struggle to find enough workers, while around 38% cited businesses’ easing desire to expand payrolls. WSJ

Bloomberg reports that Chinese officials have announced that both China and the U.S. have agreed to simultaneously roll back existing tariffs as part of a phase-one deal as negotiators work toward a comprehensive trade agreement. Should U.S. officials confirm the consensus to mutually phase out tariffs, it would be an important step toward de-escalating the trade war that has rattled investors and cast a shadow over the global economy. Bloomberg