‘Low-hire, low-fire’ economy grinds on as lower-than-expected jobless claims suggests layoffs aren’t spiking

Oil futures settled higher after a volatile trading session, showing resilience despite bearish signals from U.S. crude and product stock builds. The market's focus shifted towards ongoing peace negotiations between Russia and Ukraine, which are influencing trader sentiment.

U.S. crude oil inventories saw an increase last week, attributed to a rise in imports and a decline in exports, as reported by the U.S. Energy Information Administration. This shift reflects changing dynamics in the oil market, where net imports have become a significant factor in inventory levels.

U.S. crude oil inventories have increased due to a rise in imports and a decline in exports, as reported by the U.S. Energy Information Administration. This shift reflects changing dynamics in the oil market, where net imports have become a significant factor influencing supply levels.

Initial jobless claims in the US decreased by 6,000 to 216,000 for the week ending November 22, marking the lowest level since mid-April. This decline contrasts with economists' median forecast of 225,000 applications, while continuing claims rose slightly to 1.96 million, according to the Labor Department.

American shoppers are reconsidering purchases from Canada and England due to a new $10 tariff on items valued under $27, which was introduced to combat drug trafficking and low-quality goods entering the U.S. market. This change has led to a decline in small-item purchases from these countries.

Gold prices have risen as weak U.S. economic data has fueled expectations for a potential interest rate cut by the Federal Reserve in December. This increase reflects a growing sentiment among investors who are responding to recent dovish comments from central bankers.

The 10-year Treasury yield has fallen below 4% as U.S. consumer confidence has declined sharply, reflecting growing concerns about the economic outlook. This drop in consumer sentiment is indicative of a potential slowdown in spending and economic activity.

U.S. natural gas futures experienced a decline as the December contract neared expiration, influenced by mixed weather outlooks for early December. The market showed volatility, reflecting ongoing fluctuations in energy prices amid changing forecasts.