US Jobless Claims Fall, Housing Starts Drop in April

• US jobless claims for the week ending May 16 came in at 209,000, slightly below the estimated 210,000.
• The US May Philadelphia Fed Prices-Paid Index dropped to 47.9 from 59.3, and the overall index fell to -0.04 from 26.7, signaling a significant contraction in manufacturing.
• US April Housing Starts fell 2.8% month-over-month, while building permits increased by 5.8%.

The video provides an update on recent US economic data, highlighting that jobless claims fell slightly to 209,000, while the Philadelphia Fed index dropped significantly into negative territory, indicating manufacturing contraction and easing price pressures. Housing starts also declined in April, contributing to a mixed economic picture with US equity futures trading lower.