U.S. stock indexes opened lower on Thursday as investors digested economic data which shows the U.S. labor market is still resilient amid a slowing economy. Dow Jones Industrial Average DJIA, -0.58% dropped 204 points, or 0.6%, to 33,106. The S&P 500 SPX, -0.65% shed 0.5%, while the Nasdaq Composite COMP, -0.95% declined by 0.4%.
The number of Americans who applied for unemployment benefits in mid-January matched a four-month low of 190,000, the Labor Department reported Thursday, suggesting the labor market remains tight despite higher interest rates. Meanwhile, U.S. housing starts declined in December for a fourth-consecutive month, hitting its lowest level since July, driven by lower multi-family units.
So no pivot?
Those jobs were fat in the mortgage sector.
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