U.S. Economic Indicators

Initial jobless claims fell 9,000 to 214,000 last week. The four-week moving average fell 9,500 to 224,000. DOL Report

U.S. News

The Wall Street Journal reports that China has confirmed that its chief trade negotiator will travel to Washington early next week to sign a phase-one trade agreement with the U.S. Under the agreement, China would greatly increase purchases of U.S. farm products, further open its financial sector, and pledge to not devalue the yuan to help Chinese exporters. WSJ

According to the Financial Times, the World Bank’s latest set of global growth forecasts suggest that easing trade tensions between the U.S. and China are unlikely to lead to a rapid improvement in the world economy. Global growth is expected to edge up only slightly from 2.4% in 2019 to 2.5% this year, with the outlook for advanced economies notably weaker than that of emerging markets. FT