Wall Street opens lower after jobless claims

Donnerstag, 25. März 2021 14:30

Trading on Wall Street started with losses on Thursday despite the better-than-expected jobless claims report for last week. According to the Department of Labor, weekly jobless claims fell by 97,000 to their lowest in over a year.

Meanwhile, investors digested remarks from Federal Reserve Chair Jerome Powell, who told NPR that the central bank will need to gradually roll back its pandemic stimulus measures as "we make substantial further progress towards our goals."

The Dow Jones fell 0.52% at the opening bell in New York. Nike was the biggest laggard on the Dow as the company's shares dropped over 3%. The S&P 500 was down 0.47% as oil and gas stocks led the losses. The Nasdaq 100 sank 0.71% at the start of the session; Baidu was the weakest performer, tanking over 4%.

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