A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits fell by more than expected in the week ended June 22nd.

The Labor Department said initial jobless claims dropped to 233,000, a decrease of 6,000 from the previous week’s revised level of 239,000.

Economists had expected jobless claims to edge down to 236,000 from the 238,000 originally reported for the previous week.

Meanwhile, the report said the less volatile four-week moving average rose to 236,000, an increase of 3,000 from the previous week’s revised average of 233,000.

Meanwhile, the Commerce Department released a report on Thursday showing new orders for U.S. manufactured durable goods unexpectedly crept higher in the month of May.

The report said durable goods orders inched up by 0.1 percent in May after rising by a downwardly revised 0.2 percent in April.

Economists had expected durable goods orders to slip by 0.1 percent compared to the 0.6 percent increase that had been reported for the previous month.

Excluding an increase orders for transportation equipment, durable goods orders edged down by 0.1 percent in May after climbing by 0.4 percent in April. Ex-transportation orders were expected to rise by 0.2 percent.

The U.S. economy grew by slightly more than previously estimated in the first quarter of 2024, according to a separate report released by the Commerce Department on Thursday.

The report said gross domestic product jumped by 1.4 percent in the first quarter compared to the previously estimated 1.3 percent increase. The upward revision matched economist estimates.

The GDP growth in the first quarter still reflects a notable slowdown compared to the 3.4 percent surge in the fourth quarter of 2023.

The Commerce Department said the upward revision primarily reflected a downward revision to imports, which are a subtraction in the calculation of GDP, and upward revisions to non-residential fixed investment and government spending.

At 10 am ET, the National Association of Realtors is due to release its report on pending home sales in the month of May. Pending home sales are expected to jump by 2.5 percent in May after plunging by 7.7 percent in April.

The Treasury Department is scheduled to announce the results of this month’s auction of $44 billion worth of seven-year notes at 1 pm ET.