TheStreet’s J.D. Durkin brings the latest business headlines from the floor of the New York Stock Exchange as markets open for trading Thursday, January 18.

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Full Video Transcript Below:

J.D. DURKIN: I’m J.D. Durkin, reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.

Investors are reacting to a dip in jobless claims – 187,000 Americans filed for unemployment last week, below the 205,000 expected by Wall Street. This is yet another sign of resilience in the labor market despite the Fed’s efforts to cool it.

Investors are also still digesting December’s stronger than expected retail sales figures. Wall Street is concerned that this solid report could mean fewer interest rate cuts in 2024. Currently, markets are pricing in a 57 percent chance of a rate cut in March.

In other news, Apple has found a work-around to avoid the sales ban on its Series 9 and Ultra 2 watches. The tech company is in an ongoing dispute with medical device maker Masimo over the blood oxygen feature used in the watches. The U.S. International Trade Commission ruled in October that Apple was in violation of Masimo’s patent for technology used in its pulse oximeter.

Apple then briefly paused sales of the two watches in December – both in stores and online. Apple was then allowed to continue selling the watches as it figured out a workaround. But as the battle continues between the two companies, Apple said it will now simply remove the blood oxygen feature from the watches, allowing the company to keep selling its most recent line of watches.

Now, when a user taps the blood oxygen icon on a new watch, a message will pop up directing that person to an explanation of the situation on Apple’s website. There will be no impact on previously sold Apple Watches that included the blood oxygen feature.

Apple reported almost $40 billion in sales from its wearables unit in 2023. This includes Apple Watches, AirPods, AirTags, and more.

That’ll do it for your daily briefing. From the New York Stock Exchange, I’m J.D. Durkin with TheStreet.