Currently, the major averages are posting slim losses on the day. The Dow is down 31.08 points or 0.2% at 16,812.80, the Nasdaq is down 9.81 points or 0.2% at 4,322.12 and the S&P 500 is down 4.47 points or 0.2% at 1,939.42.
The early weakness on
Traders seem to have shrugged off a notable upward revision to April sales, which rose by 0.5% compared to the 0.1% uptick originally reported for the month.
A report from the
The report said initial jobless claims edged up to 317,000 in the week ended
After helping to lead the way lower on Wednesday, airline stocks are once again seeing substantial weakness on the day. The NYSE Arca Airline Index has tumbled by 2.8%, pulling back further off last Friday's twelve-year closing high
Steel, utilities, and railroad stocks are also seeing early weakness, while strength among gold and oil stocks is helping to limit the downside for the markets.
In overseas trading, stock markets across the
Meanwhile, the major European markets have turned mixed on the day. While the German DAX Index is just below the unchanged line, the
In the bond market, treasuries have shown a lack of direction and are currently nearly flat. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is down by less than a basis point at 2.637%.
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