Munshi Sahab

New claims for U.S. unemployment benefits declined last week, surprising analysts, though experts caution the drop may be influenced by seasonal quirks that often appear at the start of the year.
According to the Labor Department, first-time jobless filings fell by 9,000 to a seasonally adjusted 198,000 for the week ending January 10. Economists had projected a higher figure of around 215,000.
When seasonal factors are removed, however, claims rose sharply by more than 31,000, highlighting how holiday-related adjustments can skew early-year data. Analysts note that unemployment claims usually reach their lowest point in January before trending higher in the months that follow.
Overall, the U.S. labor market continues to show limited movement, described by policymakers as a period of minimal hiring and layoffs. Many employers remain cautious about expanding their workforce due to uncertainty surrounding trade and immigration policies, while growing use of artificial intelligence is also reducing the need for new hires.
The Federal Reserve’s latest Beige Book indicated that employment levels were largely steady in early January, with most hiring aimed at replacing workers rather than expanding payrolls.
Job growth slowed noticeably toward the end of last year, with nonfarm payrolls increasing by just 50,000 in December. That capped the weakest annual job growth since 2020, as the economy added roughly 584,000 jobs in 2025—an average of about 49,000 per month. While the unemployment rate edged down to 4.4%, long-term joblessness remains a concern.
Looking ahead, economists widely expect the Federal Reserve to leave interest rates unchanged at its late-January meeting. Any rate cuts are now anticipated no earlier than mid-year, assuming inflation continues to cool.
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U.S. stocks edged lower on Friday as investors remained cautious amid uncertainty over the Federal Reserve’s future direction, pushing Treasury yields to their highest level in four months.
The Nasdaq Composite and the S&P 500 both slipped by less than 0.1%, while the Dow Jones Industrial Average fell about 0.2%. Despite modest daily moves, all three major indexes finished the week with losses of under 1%. The market had briefly rebounded a day earlier, snapping a two-day slide after strong earnings from Taiwan Semiconductor Manufacturing and news of a new trade agreement between the United States and Taiwan.
In individual stocks, Micron Technology jumped nearly 8% after regulatory filings showed a company insider purchased close to $8 million worth of shares, boosting investor confidence in the chipmaker. On the other hand, power companies Constellation Energy and Vistra dropped sharply—down 10% and 8%, respectively—following reports that the Trump administration is considering changes to the nation’s largest electricity grid.
Bond markets were active as Treasury yields climbed after President Trump suggested he may look beyond close economic advisor Kevin Hassett when selecting the next Federal Reserve chair to succeed Jerome Powell in May. Analysts believe Hassett would likely support the aggressive rate cuts favored by the president, adding to speculation about the Fed’s independence.
The yield on the 10-year Treasury note rose to 4.23%, its highest level since early September. Yields have swung throughout the week as investors weighed mixed inflation data and political pressure surrounding monetary policy.
Earnings from regional banks rounded out the first week of fourth-quarter reporting. PNC Financial shares gained 4% after the bank posted results that topped expectations, supported by strong advisory and dealmaking revenue. Meanwhile, Regions Financial fell 3% after delivering weaker earnings and outlook.
In commodities, oil prices moved higher, with U.S. benchmark West Texas Intermediate crude rising 0.4% to $59.40 per barrel. Gold pulled back 0.6% to $4,595 an ounce after reaching record levels earlier in the week, while silver slid more than 3% following its recent surge.
Cryptocurrency markets were mixed, with Bitcoin trading around $95,400 late in the session, down from weekly highs above $97,500. The U.S. dollar index remained largely unchanged at 99.35.
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U.S. stocks moved sideways on Friday as the chip rally cooled and investors stayed cautious about the Federal Reserve’s next move, pushing Treasury yields to a four-month high. The Nasdaq and S&P 500 were barely higher, while the Dow slipped slightly. Micron jumped after a major insider stock purchase, but utility stocks fell on reports of possible changes to the U.S. power grid. Bond yields climbed after President Trump signaled uncertainty over the next Fed chair, adding pressure to markets. Oil edged up, gold pulled back from record highs, and Bitcoin hovered near $95,000. $BTC $XAG $ETH