Renewed concerns about the financial situation in
News that the parent company of
Additionally, the futures saw further downside following the release of a report from the
The report said initial jobless claims fell to 304,000, a decrease of 11,000 from the previous week's unrevised level of 315,000.
The modest decrease came as a surprise to economists, who had expected claims to come in unchanged compared to the previous week.
While the data represents another upbeat sign for the labor market following last week's strong monthly jobs report, traders seem increasingly concerned about the prospect of higher interest rates.
In an interview with
Bullard, a policy hawk, said the Fed could subsequently face increased pressure to raise the main interest rate sooner than most officials have estimated.
Later in the day, traders are likely to keep an eye on remarks by Kansas City Fed President
Stocks moved mostly higher over the course of the trading day on Wednesday, partly offsetting the notable pullback seen earlier in the week. The markets benefited from a positive reaction to earnings news from
The major averages moved roughly sideways going into the close, hovering firmly in positive territory. The Dow climbed 78.99 points or 0.5% to 16,985.61, the Nasdaq advanced 27.57 points or 0.6% to 4,419.03 and the S&P 500 rose 9.12 points or 0.5% to 1,972.83.
In overseas trading, stock markets across the
Meanwhile, the major European markets have all come under pressure on the day. While the
In commodities trading, crude oil futures are sliding
On the currency front, the US dollar is trading at
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