US stocks in doldrums despite solid job figures
NEW YORK—US stocks were mixed early Thursday despite weekly unemployment claims in the United States falling to their lowest level in four years.
The Dow Jones Industrial Average was down 8.44 points (0.06 percent) to reach 13,066.31 points in morning trade.
The tech-rich Nasdaq was up 3.30 points (0.11 percent) at 3,071.39 and the broad-market S&P 500 gained 0.37 point (0.03 percent) to 1,399.33.
The Labor Department reported 357,000 initial jobless claims were filed in the week ending March 31, the lowest level since April 2008.
“The pressure comes as recession and fiscal concerns continue to fester in the eurozone,” said analysts at Charles Schwab.
American Airlines was down 2.9 percent. General Electric, Merck, Pfizer, Goldman Sachs and 3M were also notably down.
Meanwhile US Airways, Bank of America and Home Depot were among the risers.
Bond prices rose as yields fell. The yield on the 10-year US Treasury was down 0.05 point to 2.20 percent. The 30-year was down 0.04 point to 3.34 percent.
Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of INQUIRER.net. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City,Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94