Morgan Stanley: Initial Claims Data Ease Market Concerns Again, Helping Fed Cut Rates in September

Initial jobless claims rose by 4,000 to a seasonally adjusted 232,000 in the week ended August 17, slightly more than the 230,000 expected, according to data released Thursday by the U.S. Labor Department.

Morgan Stanley E*Trade's Chris Larkin said the latest initial jobless claims indicate a slowing but resilient labor market, which should help the Federal Reserve start cutting interest rates in September.