Regan Capital: Initial claims data shows the Fed doesn't need to rush

New labor data eased fears of an economic collapse, with jobless claims falling and remaining within a months-long range, suggesting businesses are retaining employees. "A cooling labor market doesn't mean we're heading for a recession," Regan Capital's Skyler Weinand said in a note, adding that the declines in stocks, Treasury yields and the dollar since Friday's disappointing July jobs report have been overstated. Despite recent calls for aggressive monetary easing, economic conditions still provide room for the Fed to stay on hold again, a possibility that markets have completely ruled out. He advises staying calm. (Jinshi)