The Dow Jones is down more than 100 points and the US jobless claims rise
2018-10-11 02:03 pm | Resource: News | No Views : 161
US equity markets fell more modestly on Thursday than yesterday, as technology stocks tumbled the worst selling streak since February. Investors have been wary of higher interest rates due to multi-year revenue records.
- The Dow lost more than 941 points from its highest level on Tuesday.
- The Nasdaq 100 rose more than 327 points, closing down 4.44%.
- Where the S & P 500 index fell 3.29%.
At the same time, the seasonally adjusted US CPI showed an annualized increase of 2.3% for September, down 0.4 percentage points, pushing the S & P 500 index to green. The Ministry of Labor added that initial jobless claims increased 7,000 to 214,000.
Unemployment claims in the United States rose from 7000 to 214 thousand
Initial jobless claims in the United States rose by 7,000 to 214,000 from the previous week's unadjusted week in the week ending Oct. 6, the US Department of Labor reported on Thursday.
The seasonally adjusted unemployment rate for the week ended September 29 was 1.2%, unchanged from the previous non-adjusted level. The insured unemployment rate increased during the same week by 4,000 to 1,660,000 from the revised level the previous week. The four-week moving average was 1,656,000, indicating a 10,000 drop from the previous week's revised average.
Trump: I do not want the Fed to be too aggressive
US President Donald Trump received another blow to the Federal Reserve by telling Fox News on Thursday he wanted the US central bank "not to be aggressive." He went on to say that the Fed "has become a little nice" and made a big mistake by raising interest rates. Trump added that the recovery from the 2008 financial crisis was "the worst in our country's history," and said President Obama threw a lot of "zero, funny" money, while "paying interest at a high price because of feeding it."
Moving to China, Trump claimed that the United States helped rebuild the country and enabled the Chinese people to live "well for a very long time." "They are not happy, they can not be happy," the president said. He added that his tariff policies had "a significant impact" on harming the Chinese economy, while noting that he had "a lot" to do in the country.
US Stocks Open
- The Dow Jones Industrial Average was down 0.32% at the open. Visa caused a loss of 1.15%.
- The Nasdaq 100 fell 0.24%. Walgreens Boots Alliance Holdings was the worst performer by 3.30% at the opening, with Qualcomm after the second, down 1.53% at 3:35 pm.
- The S & P 500 Index shed 0.21%. Engineering and Construction Company fell by 13.98%.
The euro was up 0.40% against the dollar at 1.15652 at 3:32 pm CET.
Time frame Used - four hours The NASDAQ 100 is moving in a sideway direction in the near term. The NASDAQ 100 still faces resistance and selling pressure around the 7054 level forming a technical pattern called a rising wedge. In view of the technical indicators Both the RSI and the Stochastic are indicating a negative divergence between the RSI and the RSI as the Stochastic indicates that the indicator…
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