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Wall Street started higher Gain After Unemployment Claims

2019-08-15 02:20 pm | Resource: News | No Views : 34

Wall Street started higher Gain After Unemployment Claims

Wall Street started the day higher on Thursday, recovering some losses from the previous day, as data from the US showed that jobless claims increased from 9,000 to 220,000 while industrial production fell 0.2% and retail sales rose 0.7% in July.

Before the bell, Alibaba posted Wal-Mart its profits. After the trading day, investors expect the quarterly figures from Nvidia.

Initial jobless claims in the US amount to 9,000 to 220,000

The US Labor Department reported on Thursday that initial jobless claims in the US for the week ending Aug. 10 increased by 9,000 compared with revised figures the previous week to 220,000. The four-week moving average was 213,750, up 1000 from the previous week's revised average of 212,750.

The seasonally adjusted unemployment rate for the week ending August 3 was 1.2%, unchanged from the previous week. The seasonally insured unemployment rate for the same week was 1,726,000, up 39,000 from the revised figure the previous week. The four-week moving average was 1,697,250, an increase of 9,250 compared to the previous unauthorized average of 1,688,000.

US industrial production fell 0.2% in July

US industrial production fell 0.2% in July from the previous month, according to data from the Federal Reserve on Thursday. On an annual basis
  • Total industrial production increased by 0.5% compared to July 2018.
  • Industrial production fell 0.4% on a monthly basis, and mining fell 1.8% on a monthly basis as a result of a sharp temporary decline in oil extraction in the Gulf of Mexico due to Hurricane Barry.
  • Meanwhile, the decline was offset to some extent by an increase of 3.1% in the utility index.
  • Production capacity utilization in the industrial sector in July was 77.5%, down 0.3 percentage points month-on-month and 2.3 percentage points below its long-term average.

Wall Street Openings
  • The Dow Jones Industrial Average was 0.23% in the green in the first minute of trading.
  • The Nasdaq 100 rose 0.23% at 9:30 am ET.
  • The S&P 500 rose 0.22% at 9:30 am ET.

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