US Philly Fed index rebounded 18.5 points to 6.2 in August, better than projected, after diving -9.0 points to -12.3 in July which was the lowest going back to May 2020. US initial jobless claims dipped 2k to 250k in the week ended August 13, better than forecast and the first decline in three weeks. This week’s reading takes on added importance as it is the reference week for the BLS jobs data.
Two positive data points for the US economy, join Andria for some market reaction.
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Andria Pichidi
Market Analyst
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