12.15pm: US stock markets lower at midday as jobless claims spook traders
US stocks were down at noon as US jobless claims during the past week unexpectedly jumped to 419,000, well above consensus estimates of 360,000.
The Dow Jones Industrial Average slipped 65 points at 34,733, while the broader-based S&P 500 eased nearly 5 at 4,354.
The tech heavy Nasdaq was essentially flat, off 9 points to stand at 14,623.
“The truth is investors have been very spoiled by the recent stock market performance,” LPL Financial chief market strategist Ryan Detrick wrote.
“Incredibly, we haven’t seen as much as a 5% pullback since October. Although we firmly think this bull market is alive and well, let’s not fool ourselves into thinking trees grow forever. Risk is no doubt increasing as we head into the troublesome August and September months,” Detrick added.
On the corporate front, investors were still digesting disappointing results on Wednesday from streaming giant Netflix (NASDAQ:NFLX), as its shares were off about 1% on Thursday to $507.21 after falling more than 3% a day earlier.
10.30am: Proactive North America headlines:
Great Panther Mining reveals new drill results from Urucum North deposit that could add near-term gold production at Tucano mine
Versus Systems partners with Military Bowl Foundation to provide interactive fan experiences
Marble Financial surpasses 20,000 member milestone on the MyMarble financial wellness platform
Major Precious Metals closes final tranche of its C$10M placing to advance Skaergaard drill program
Else Nutrition Inc (OTCQX:BABYF, TSX-V:BABY) to make a strong push into Louisiana, Mississippi, Alabama through Rouses Markets
Group Eleven Resources kicks of maiden drill program at Zones 3 and 4 at Carrickittle zinc prospect in Ireland
Plurilock Security Inc awarded US$217,000 purchase order from a California state retirement fund manager
9.40am: Wall Street opens mixed
The main indices on Wall Street opened on a mixed note on Thursday following an unexpected rise in US jobless claims numbers.
Shortly after the opening bell, the Dow Jones Industrial Average was down 0.15% at 34,745 while the S&P 500 inched up 0.05% to 4,360 and the Nasdaq rose 0.25% to 14,668.
The uncertain start followed news that the number of Americans seeking unemployment benefits rose to 419,000 last week from 368,000 the previous week, upending analyst predictions of a drop to 350,000.
The increase keeps weekly claims near their level of two months ago, which means there has been little improvement despite signs of the job market recovering.
7:45am: Wall Street to open higher
Wall Street is set for a positive start, with the Dow Jones Industrial Average looking at a third day of gains.
The Dow is forecast to rise by 97 points or 0.27% at the open, while the S&P 500 is expected to climb 0.23% and the Nasdaq Composite is indicated 0.17% higher.
A generally positive reporting season seems to have persuaded investors to shrug off concerns about the Delta variant.
That has continued today to a degree, with AT&T shares up 1.4% in premarket after its results beat forecasts.
Meanwhile, US weekly jobless claims are expected to show a dip from 360,000 to 350,000.
Four things to watch for on Thursday:
- Notable firms in the earnings diary today include computer processor maker Intel Corp (NASDAQ:INTC), healthcare firm Abbott Laboratories (NYSE:ABT) (NYSE:ABT) and medical device maker Danaher (NYSE:DHR) Corp (NYSE:DHR)
- Video game publisher Activision Blizzard Inc (NASDAQ:ATVI) is likely to draw attention after it was hit with a lawsuit by the state of California over an alleged “frat boy culture” at the group as well as harassment and discrimination against women
- Meanwhile, shares in chemical firm Dow Inc (NYSE:DOW) could also be in focus after the group swung into profit amid better than expected
- On the macro front, aside from US jobless claims there may be some interest in more home sales data
Story by ProactiveInvestors
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 888-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 888-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
pathogens and gives you more
energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video)
Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.