Last Updated: 4:15 PM EST
Stock indices finished today’s trading session in the green. The Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) gained 0.16%, 0.51%, and 0.85%, respectively. On Thursday, the Department of Labor released its Initial Jobless Claims report, which came in worse than expected. In the past week, 231,000 people filed for unemployment insurance for the first time. Expectations were for 212,000 individuals.
When using the four-week average, initial jobless claims were 215,000, up from last week’s reading of 210,250.
In addition, Continuing Jobless Claims, which measures the number of unemployed people who qualify for unemployment insurance, came in at 1.785 million. This was below the forecast of 1.79 million but higher than last week’s print of 1.768 million.
First Published: 4:00 AM EST
U.S. futures are trading lower on Thursday morning as traders await weekly jobless claim data and analyze corporate earnings. Corporate earnings have so far been strong, with most S&P 500 companies’ quarterly results exceeding analysts’ expectations. The futures on the Nasdaq 100 (NDX), S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were down by about 0.22%, 0.16%, and 0.13%, respectively, at 2:58 a.m. EST, May 9.
In after-hours action, shares of the chip design company Arm Holdings (ARM) fell about 9% following the release of its Q4 earnings. Also, shares of Airbnb (ABNB) dropped over 8.4% after the online lodging marketplace provided a lower-than-expected Q2 forecast. Conversely, Robinhood (HOOD) stock increased more than 4% as the financial services company reported stronger-than-expected Q1 earnings.
On the earnings front, Warner Bros. Discovery (WBD), Marathon Digital Holdings (MARA), and SoundHound (SOUN) are among the companies slated to release their quarterly financials today. Wall Street is cautiously optimistic about WBD and SOUN stock ahead of quarterly results.
Turning to this week’s economic reports, jobless claim data will be released today. Further, the University of Michigan’s (UoM) 5-year Consumer Inflation Expectations and May’s preliminary readings of the Michigan Consumer Sentiment Index data will be released on Friday.
Meanwhile, the U.S. 10-year treasury yield was up at the time of writing, floating near 4.5%. At the same time, WTI crude oil futures trended higher, hovering near $79.31 per barrel as of the last check.
Elsewhere, European indices will likely open higher ahead of the Bank of England’s interest rate verdict.
Asia-Pacific Markets Were Mixed Today
Asia-Pacific indices were mixed on Thursday as investors assessed China’s trade data and Japan’s real wage numbers.
Japan’s Nikkei was down 0.34%. On the other hand, the TOPIX index was up 0.26%. Elsewhere, China’s Shanghai Composite and Shenzhen Component indices rose 0.79% and 1.49%, respectively. At the same time, Hong Kong’s Hang Seng index was up 1.13%.
Interested in more economic insights? Tune in to our LIVE webinar.
