The market had a mixed open on Thursday, as stocks got a boost from lower-than-expected jobless claims but investors also watched for updates on the next round of coronavirus stimulus from U.S. lawmakers.Angela Weiss/AFP via Getty ImagesThe Dow Jones Industrial Average was down 0.2%, almost 50 points, at Thursday’s open, while the S&P 500 fell 0.1% and the tech-heavy Nasdaq Composite was flat.
Stock market futures pared back earlier losses and briefly turned positive after better-than-expected unemployment data: The Labor Department said that nearly 1.2 million AmericansNot only did that beat Wall Street estimates of 1.4 million, but it’s also the lowest levels of weekly jobless claims since the coronavirus pandemic began.
The jobs data comes as investors closely watch for progress on a new coronavirus stimulus bill, but Congress remains deadlocked over key issues like extending federal unemployment benefits, which expired last week.CNBC on Thursday that despite stalled negotiations, he expects an agreement on the next round of coronavirus relief to be reached “in the near future.”Rocket Companies, the parent company of Quicken Loans, is set to make its public market debut on Thursday.
The idea that 1.1 million jobless claim is good news is preposterous
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