U.S. stocks open lower Thursday after jobless-claims data

0
13

U.S. stocks opened lower Thursday as investors weighed a report showing initial jobless claims fell in the last week of 2022, indicating a strong labor market even as the Federal Reserve tries to cool the economy in its battle to bring down inflation. The Dow Jones Industrial Average DJIA, -0.96% was down 0.5%, soon after the opening bell, while the S&P 500 SPX, -0.97% shed 0.6% and the Nasdaq Composite COMP, -1.07% fell 0.7%, according to FactSet data, at last check. The Department of Labor reported Thursday that new applications for unemployment benefits fell to 204,000 in the week ended Dec. 31.That was below the forecast from economists polled by the Wall Street Journal. Investors have been worried about how aggressive the Fed may need to be raising interest rates to cool inflation, and how long rates may remain high.

This article was originally published by Marketwatch.com. Read the original article here.

Previous article6-month, 1-year Treasury bill rates head closer to 5% as bond market reacts to Fed’s George, ADP data
Next articleMarket Extra: What stock-market investors need to know about the ‘January Indicator Trifecta’

LEAVE A REPLY

Please enter your comment!
Please enter your name here