Stocks - Wall Street Falls After Jobless Claims Numbers
Published Nov 15, 2018 09:29AM ET
Investing.com – Wall Street opened lower on Thursday, after jobless claims numbers were consistent with a strengthening labor market.
The S&P 500 fell 16 points, or 0.62%, to 2,684.82 as of 9:35 AM ET (14:35 GMT), while the Dow dipped 159 points, or 0.64%, to 24,921.06 and the tech-heavy Nasdaq Composite was down 11 points, or 0.17% to 7,124.54.
The number of people who filed for unemployment assistance in the U.S. rose by 2,000 to a seasonally adjusted 216,000 from the previous week’s total of 214,000. The numbers give support to the Federal Reserve gradually increasing interest rates.
Meanwhile retail sales rose, while Philly Fed manufacturing data declined.
JC Penny slumped 13.11% after its same-store sales were lower than expected, while Walmart (NYSE:WMT) dipped 0.79%. Walmart's quarter looked strong overall, with a rise in online sales, but revenue did miss estimates. NetApp (NASDAQ:NTAP) fell 10.18% despite its earnings coming in better than-expected.
Elsewhere, Cisco (NASDAQ:CSCO) rose 4.38% after its quarterly earnings beat estimates, while the Naked Brand Group (NASDAQ:NAKD) apparel company surged 27% on news that it closed its acquisition of Fredericks of Hollywood's global e-commerce business. Apple (NASDAQ:AAPL) rose 1.26%, while Tesla (NASDAQ:TSLA) inched up 0.18%.
In commodities, gold futures rose 1.16% to $1,213.10 a troy ounce, while crude oil rallied 0.53% to $56.55 a barrel on news that OPEC could curb its production output. The U.S. dollar index, which measures the greenback against a basket of six major currencies, increased 0.37% to 97.02.
Get The News You Want
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.