In recent trading, the major averages have moved roughly sideways, hovering in positive territory. The Dow is up 38.86 points or 0.2% at 16,482.20, the Nasdaq is up 17.15 points or 0.4% at 4,372.21 and the S&P 500 is up 5.37 points or 0.3% at 1,925.61.
The early strength on
The drop came as a surprise to economists, who had expected jobless claims to edge up to 305,000 from the 302,000 originally reported for the previous week.
The data provides another positive sign for the labor market but may also fuel further speculation about the Federal Reserve raising interest sooner than anticipated.
"For the Fed, today's data point is another figure pointing out how far behind the reality of the data they are falling," he added.
Traders are also keeping an eye on developments overseas, where the
However, Draghi acknowledged that the dispute with
In response to sanctions from the US and
Utilities stocks have shown a strong move to the upside in early trading after falling sharply over the past few sessions. The Dow Jones Utilities Average has risen by 1.2%, bouncing well off yesterday's four-month closing low.
Defense, software, and tobacco stocks are also seeing some early strength, while most of the major sectors are showing only modest moves.
In overseas trading, stock markets across the
Meanwhile, the major European markets have all moved to the downside on the day. While the French CAC 40 Index has fallen by 0.5%, the
In the bond market, treasuries have moved modestly higher, adding to the slim gains posted over the past few sessions. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is down by 1.2 basis points at 2.462%.
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