Strategist: Initial Claims Data Meet Expectations, Falling Labor Costs a Positive

Strategist Cameron Crise said that while initial jobless claims didn't bring any surprises, the stock market seems to think that's a mild positive in itself. Additionally, final nonfarm unit labor costs fell more than expected from 0.9% to 0.4% in the second quarter. This data is fairly volatile, so the drop was not as significant as it might seem at first glance, but it was a no-brainer positive for a variety of financial assets.