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The number of initial jobless claims in the United States for the week ending July 11th was 208000, with an expected 217000, revised from 215000 to 216000. AI interpretation: The job market has shown unexpectedly strong resilience, with labor demand remaining at a high level. The significant decline in the number of first-time applicants directly shattered the market's expectation of a cooling of employment, further consolidating the logic of an economic soft landing. This tight employment environment gives the Federal Reserve the confidence to maintain its high interest rate policy, effectively suppressing market bets on short-term interest rate cuts.