Initial jobless claims for the week ending in August 10 ticked lower to 227,000, coming in below the estimated 235,000. This is the second week of declines for jobless claims, indicating a continued strength in the labor market. Meanwhile, July's retail sales rose 1%, soaring past estimates of a 0.4% increase. This comes as inflation continues to moderate, and signals overall resiliency in consumer spending.

Morning Brief Hosts Seana Smith and Brad Smith report more on the latest data and what it highlights about the current health of the US economy.

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This post was written by Melanie Riehl