CNBC's Rick Santelli reports on the latest economic data to cross the tape.

Washington

The latest data on initial jobless claims shows a decrease to 227,000, which is lower than expected and represents the smallest figure since mid-May. This number is down from the previous week's revised total of 232,000. Continuing claims remain steady at just under 2 million, a level that has persisted for several months and is the highest since 2021. Treasury auctions, including a recent 10-year auction, have been solid, with no significant supply concerns noted.

Weekly jobless claims comes in lower than expected

We're just seconds away now from the jobless claims data coming in. Let's get a quick check of the futures right now, a mixed picture. The S&P 500 is down three points. The Dow is off by 48, but the Nasdaq in positive territory by two points. Treasuries right now, you're seeing the 10-year largely unchanged at 4.34, unchanged. You've got the two-year now down 3.858% is the yield on that. Rick Santelli standing by at the CME in Chicago with the numbers when they come in. Rick. Absolutely, Contessa. Yes, we're awaiting jobless claims and do keep in mind 250,000 is kind of an important area psychologically for initial claims. That was the exact area we hit the first week in June, but we haven't been above it since October of last year on continuing claims. We remain over 1.9 million and they should be hitting the wires any moment. We do have 22 billion 30-year bonds that will be auctioned at 1 Eastern. 227,000 is our number for the week of July 5th on initial jobless claims. That's a bit lower than expected. And when you take the revision into account, 232,000, the new number versus 233,000, we are down 5,000. 227,000 will be the smallest number since mid-May when we were 226,000. It really has been kind of very, very steady on continuing claims. Another month above 1.9 million, barely 1,965,000. Virtually the last three months have been on top of each other. These are the highest numbers going back to 2021. We continue to see these numbers very well behaved, historically on claims, recently on initial. And with that auction coming up, I'd like to highlight the 10-year auction. Yesterday was very solid. The three-year was slightly above average. So supply at the moment doesn't seem to be an issue. We have been mostly sideways in what remains close to the upper end of a range, right around that 440 to 4.5 area. We did hit under 420 intraday briefly last week, and that definitely seemed to be the turning point. Joe Contessa, back to you.

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Ventura County

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Los Angeles

31 trapped workers rescued after tunnel collapse

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Kuala Lumpur

Global Tariffs

Rubio: New Russia sanctions a ‘real option’

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Kyiv

Ukraine Invasion

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Texas

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San Francisco

Yaccarino steps down as CEO of Elon Musk's X

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Moscow

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Kerr County

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Sana'a

Middle East Conflict

Houthi rebels claim responsibility for attack on ship in Red Sea

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Ontario

Trump threatens 50% tariff on copper imports

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Marseille

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Cernadilla

Liverpool's Jota likely speeding when car crashed, police say

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London

UK royals welcome France's Macron for state visit

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Rio de Janeiro

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Kerrville

At least 90 people killed in Texas floods

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McAllen

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