The number of Americans filing new applications for unemployment benefits fell last week, but stayed at levels consistent with a further loss of labor market momentum in June. Initial claims for state unemployment benefits dropped 5,

The report from the Labor Department showed widespread layoffs the week before, which had boosted claims to an eight-month high.

The S&P, which most closely tracks the overall economy, climbed back to 6,000 Friday, up 1.03% (peaked 6,144 in February 2025). The Dow, which peaked at over 45,000 in December, was up 1.05% to 42,760, while the volatile NASDAQ, which peaked at over 22,408 also in December, was up 1.20% to 19,529