Key Events
Latest Updates
The lull between Christmas and New Year looks to be infecting the stock market, with futures pointing to losses at the open.
Dow Jones Industrial Average futures were down 99 points, or 0.2%. S&P 500 were falling 0.3% and Nasdaq 100 futures were losing 0.3%.
The yield on the benchmark 10-year Treasury note stood at 4.603%, ticking up from the previous day. The yield has risen steadily since around 4.2% at the start of December.
“The recent volatility appears to be a combination of a Fed more cautious about cutting than hoped for, and the difficult-to-forecast bold changes proposed by the Trump administration which while bullish in theory might be costly in the short term,” wrote Louis Navellier, founder of Navellier & Associates
Investors appeared to find little encouragement in jobless claims data on Thursday. While initial jobless claims arrived lower than forecasts for the week ending Dec. 21 at 219,000, continuing jobless claims of 1.91 million rose by 46,000 from the previous week’s revised level and were above analysts’ forecasts.
“For now, the consumer has a healthy appetite for travel and other discretionary items but elevated continuing claims suggest a slowdown in the job market,” said Jeffrey Roach, chief economist for LPL Financial.
