False alarm: Surge in jobless claims unwinds after recent spike. Layoffs still low.
1. Jobless claims drop to 231,000; prior week was 264,000. 2. Raw claims below 200,000, indicating a strong labor market trend. 3. Unemployment benefit recipients fell by 7,000 to 1.92 million. 4. Fed's rate cut signals confidence, impacting DJIA positively. 5. Job market may improve if trade disputes settle and rates decrease.