Wall Street muted as weak earnings overshadow signs of softening labour market

  • 📰 malaymail
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 86%

Wall Street News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

NEW YORK, May 9 — US stock indexes were muted today as a slate of downbeat earnings offset the impact of data that showed US weekly jobless claims rose more than expected,...

Initial claims for state unemployment benefits increased 22,000 to a seasonally adjusted 231,000 for the week ended May 4, the Labor Department said. Economists polled by Reuters had forecast 215,000 claims in the latest week. — Reuters picNEW YORK, May 9 — US stock indexes were muted today as a slate of downbeat earnings offset the impact of data that showed US weekly jobless claims rose more than expected, indicating softening labour market conditions.

The data also dragged down yields on 10-year Treasury notes, the benchmark for global borrowing costs, which had risen in the previous session and pressured equities. Roblox slumped 21.5 per cent after the video-gaming platform cut its annual bookings forecast, in a sign that people were dialling back spending amid an uncertain economic outlook and elevated levels of inflation.

Airbnb slid 6.7 per cent after the vacation rental company forecast second-quarter revenue below market expectations, stoking fears of slowing growth.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Wall Street ends sharply lower on mixed earnings, sticky inflation, geopolitical fearsNEW YORK, April 13 ― US stocks sold off yesterday after major US banks' results failed to impress, capping a week marked by market-moving inflation data, evolving...
Source: malaymail - 🏆 1. / 86 Read more »

Wall Street stocks close lower on higher Treasury yields, rate expectationsNEW YORK, April 17 ― Wall Street stocks ended lower in choppy trading yesterday as Treasury yields climbed, with investors weighing the likely path of interest rates in a...
Source: malaymail - 🏆 1. / 86 Read more »

Wall Street week ahead: ‘Crowded’ megacap trade in US stocks awaits earnings testNEW YORK, April 19 — Next week’s earnings reports from some of the market’s biggest technology and growth companies could prove an important test for the US stock rally,...
Source: malaymail - 🏆 1. / 86 Read more »

Wall Street stocks end higher with major corporate earnings in viewNEW YORK, April 23 ― Wall Street stocks ended higher yesterday following a market sell-off in previous sessions as investors eyed a busy week for quarterly results from key...
Source: malaymail - 🏆 1. / 86 Read more »