The U.S. economy continued to show resilience despite heightened geopolitical tensions and market volatility. The labor market remained a clear bright spot, with initial jobless claims declining by 22,000 to 187,000, the lowest level of new unemployment benefit applications since 1969. In contrast, continuing claims eased to 1.796 million, highlighting ongoing strength in employment. June durable goods orders rose just 0.3%, missing expectations. But core business investment stayed healthy. Shipments posted their strongest gain since 2021, pointing to steady underlying demand.

However, rising tensions in the Strait of Hormuz briefly pushed WTI crude above $91 per barrel and Brent to near $100, fueling market volatility before prices cooled. Meanwhile, the Federal Reserve kept rates at 3.50-3.75%, signaling a cautious, data-driven stance, as policymakers balanced resilient growth against lingering inflation and global uncertainty. Overall, the economy continues to expand steadily, supported by a strong labor market, even as geopolitical risks and inflation keep policymakers and investors on alert.

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