Jobless Claims Rise to 3-Month High as Signs of Slowing Economy Mount
- Weekly jobless claims increased to highest level in 3 months, suggesting cooling labor market
- Continuing claims rose to 1.865 million, highest since November 2021
- Import prices dropped 0.8% in October, bolstering outlook for lower inflation
- Higher interest rates curbing demand and slowing economic activity
- Dollar fell and Treasury prices rose on expectations Fed rate hike cycle is complete