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Wall Street opens lower ahead of interest rate decision and falls in unemployment claims

2018-11-08 02:48 pm | Resource: News | No Views : 164

 US markets opened in the red zone on Thursday as investors continued to expect a Fed rate decision later in the day. In addition, weekly US jobless claims figures were released earlier, indicating a drop of 1,000 from the previous week.

 At the same time, Walt Disney is expected to publish its quarterly financial report after the closing bell today.

Unemployment claims in the United States are down by 1,000 to 214,000

Initial US jobless claims for the week ending Nov. 3 reached 214,000, 1,000 fewer than the previous week's rate, the US Department of Labor said on Thursday. The four-week moving average was 213,750, down by 250 from the previous week's average.

The insured unemployment rate was seasonally adjusted at 1.1% for the week ended October 27th, the same as the unadjusted weekly rate for the previous week. The seasonally adjusted unemployment rate fell by 8,000 from the previous week's revised figure to 1,623,000, the lowest since July 28, 1973.

The 4-week moving average was 1,633,250, down 7,500 from the previous unadjusted average, hitting its lowest level since 11 August 1973.

US Stocks Open
  • The Dow Jones Industrial Average fell 0.21% at 3:30 pm CET.
  • The Nasdaq 100 opened 0.48% in the red zone at 3:30 pm CET.
  • The Standard & Poor's 500 Index fell 0.31% at 3:30 pm CET.

The euro traded flat against the dollar to change to close at 1.1437 at 3:31 pm CET

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Time frame Used - four hours The NASDAQ 100 is moving in a bullish direction in the near term. The NASDAQ 100 is moving within an up channel but it is facing resistance and selling pressure around the 7422 level which represents the upper boundary of the up channel. In view of the technical indicators Both the RSI and the Stochastic are indicating signs of recovery. Accordingly, we expect that…

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