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US stocks price fell in red and US weekly jobless claims rise

2019-07-18 02:05 pm | Resource: News | No Views : 49

US stocks price  fell  in red and US weekly jobless claims rise

 Stocks in the US stock markets started trading on Thursday in the red zone as the earnings season continued. United Healthcare and Philip Morris International reported higher net income, while Blackstone Group and Morgan Stanley declined. Microsoft Corp. is set. To release its profits later in the day.

Bullard member of the Fed wants to cut interest rates in July

St. Louis Federal Reserve Chairman James Pollard told CNN on Thursday he believed the Fed should cut interest rates at its next meeting. Pollard claimed that such a move would be "insurance" against the economic slowdown, adding that two interest rate cuts from the central bank could shift the yield curve upwards. He also warned against increasing trade uncertainty.

US President Donald Trump's administration has called on the Federal Reserve to cut interest rates for several months, citing low inflation. The central bank decided to keep interest rates at its last meeting, but Federal Reserve Chairman Jerome Powell said this week that the rate cut had been boosted by growing uncertainty about trade and global growth.

US weekly jobless claims are in line with estimates
  • On the data front, the Labor Department said Thursday that the first US jobless claims rose in line with economists' expectations for the week ending July 13.
  • Initial jobless claims rose to 216,000, an increase of 8,000 from a revised level of 208,000 last week, the report said.
  • Economists had expected jobless claims to creep to 216,000 from 209,000 reported the previous week.
  • The rally came after last week's drop, which led to a drop in jobless claims to its lowest level since hitting a 50-year low in the week ending April 13.
  • At the same time, the Labor Department said the four-week moving average was down to 218,750, down 250 from last week's revised average of 219,000.
  • Continued claims, a reading of the number of people receiving ongoing unemployment assistance, also fell by 42,000 to 1.686 million in the week ending July 6, the report said.
  • The four week moving average of continuing claims continues to rise to 1,701,000, an increase of 5000 from the revised average of the previous week of $ 1,696,000.

 Stocks Open
  • The Dow Jones Industrial Average was down 0.13%, with UnitedHealth losing 1.95%.
  • The Nasdaq 100 fell 0.49%
  • While the S & P 500 shed 0.19%. Netflix was the worst performer in both indexes, falling by 10.60% on a lower-than-expected growth.

The euro was down 0.09% against the dollar at 9:29 am GMT, trading at $ 1.12147, while the pound was up 0.28% at $ 1.24686 at the same time.

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