Weekly Declines News Today

Finalized data from the Nevada Department of Employment, Training and Rehabilitation (DETR) show initial claims for unemployment insurance (UI) totaled 11,337 for the week ending May 30, down 4,270 claims, or 27.4 percent compared to last week’s total of 15,607. This is the fifth consecutive week of declines in regular initial claims.

Oil prices rise as energy firms post positive earnings and U.S. data shows a decline in crude output and rise in fuel demand. Brent and WTI record second straight weekly declines, with a fourth straight monthly decline for Brent as uncertainty over interest rate hikes weigh on the demand outlook. U.S. officials coordinate talks to rescue First Republic Bank.