US initial jobless claims rose by 4,000 to 229,000 (SA) in the week ending June 6, the Labor Department said, slightly above market expectations. Seasonal school breaks can push claims higher as some states allow non-teaching staff to file, and seasonal adjustment models may not fully capture that effect. Separately, May payrolls posted a third consecutive month of strong job gains and the unemployment rate held at 4.3% for a third month; part of the strong employment picture may reflect fewer l

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Changjiang Securities chief economist Wu Ge said oil prices may have peaked as multiple channels are filling crude supply gaps and high prices risk reflexive political effects on the US midterms. He said demand for AI-related compute and tokens is showing non-linear growth while global power and related supply remain linear, creating cost pressure; together with economic resilience this is lifting overseas risk-free rates and returning assets to a macro-driven pricing paradigm, with the scale depending on the earnings-versus-rates trade-off. Domestically, a small pickup in some second‑hand housing markets is visible, but household lending suggests housing and consumption are bottoming. Wu said China’s export comparative advantage persists.