while 261,000 initial claims in a week is not necessarily alarming, it does suggest a decline in the momentum of the previously strong US labor market.
Concerns Grow Over US Labor Market as Jobless Claims Report Aligns with Recent Weak Data Unemployment Rate Surprisingly Rises to 3.7% from 3.5%
Crypto traders are now eagerly awaiting a speech from Coinbase CEO Brian Armstrong at the same conference later in the day which play a major role