Initial jobless claims for the week ended May 30 rose to 225,000, above expectations of 213,000 and a revised prior 212,000, the highest since the first week of February. The four-week moving average increased to 214,750 from 208,250. Continuing claims fell to 1,777,000, slightly below the 1,780,000 forecast. The uptick in initial claims suggests some softening in the labor market but remains at relatively low, stable levels. Note continuing claims carry a one-week reporting lag, so next week’s

Initial jobless claims for the week ended May 30 rose to 225,000, above expectations of 213,000 and a revised prior 212,000, the highest since the first week of February. The four-week moving average increased to 214,750 from 208,250. Continuing claims fell to 1,777,000, slightly below the 1,780,000 forecast. The uptick in initial claims suggests some softening in the labor market but remains at relatively low, stable levels. Note continuing claims carry a one-week reporting lag, so next week’s continuing-claims print will correspond to this week’s initial claims. U.S. equity futures mixed in premarket: Dow futures +1.0%, S&P 500 futures -0.22%, Nasdaq futures down >1%. Treasury yields declined: 2-yr 4.039% (-4.5bps), 10-yr 4.455% (-3.8bps), 30-yr 4.960% (-3.0bps).