1105 ET - Initial jobless claims fell below estimates to the lowest reading in at least six weeks, a clear message that the U.S. labor market doesn't need help from the Fed, Chris Osmond of Fifth Third Wealth Advisors says in a note. Claims have taken a meaningful step down from August's levels, the labor market is resilient and layoff activity isn't accelerating, Osmond says. "The Fed does not need to trade off its inflation fight against labor market fragility," he says. This level of claims gives the Fed runway to keep policy restrictive for as long as the inflation fight requires, Osmond says. There aren't any distress signals from the labor market that would force an early pivot from the Fed, he says.