Last updated: 4:04PM EST
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Stock indices finished today’s trading session in the red, as the Nasdaq 100 (NDX), S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) lost 0.86%, 0.82%, and 0.65%, respectively.
The Health Care sector (XLV) was the session’s top loser, as it lost 2.05%. Conversely, the Communication Services sector (XLC) was the session’s leader, with a loss of 0.3%.
Furthermore, the U.S. 10-Year Treasury yield saw a slight increase to 4.64%. Similarly, the Two-Year Treasury yield was also little changed, as it hovers around 5.041%.
Last updated: 2:30PM EST
Stocks are in the red so far in today’s trading session. Meanwhile, Federal Reserve Chairman Jerome Powell, a week after the Central Bank voted to maintain current interest rates, said he is still focused on reducing inflation. Powell made these remarks for an International Monetary Fund audience in Washington, D.C.
While noting positive growth in the economy, Powell said he and his fellow policymakers are encouraged by the slowing pace of inflation. However, the Fed Chair is not confident that they have done enough to sustain the momentum.
Powell stated that inflation is still “well above” where the Fed would like to keep it. Furthermore, he reiterated that the Federal Open Market Committee still has its eyes on bringing inflation down to 2%.
Powell, as he has in recent remarks, emphasized that the Fed can still be cautious because the risks of doing too much and too little have become more balanced.
Last updated:9:30AM EST
Stocks opened higher on Thursday morning as the Nasdaq 100 (NDX), S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) are up by 0.14%, 0.12%, and 0.04%, respectively, at 9:30 a.m. EST, November 9.
The jobless claims data for the week ending November 4 indicated that the labor market continued to be stronger than expected as jobless claims dipped to 217,000 but were higher than economists’ forecasts of 215,000. The jobless claims for the week ending November 4 were lower than the prior week’s claims of 220,000.
Continuing jobless claims stood at 1.83 million as compared to consensus estimates of 1.82 million. The four-week moving average was 212,250, up from 1,500 from the prior week’s revised average of 210,750.
First published:3:43AM EST
U.S. Futures are trending lower on Thursday following a busy day of mixed earnings, yesterday. Futures on the Nasdaq 100 (NDX), S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) are down by 0.13%, 0.11%, and 0.05%, respectively, at 3:40 a.m. EST, November 9.
Traders are closely watching Federal Reserve officials speak their minds on the state of the U.S. economy. Federal Reserve Chair Jerome Powell is also set to speak today. Meanwhile, the U.S. 10-year treasury yield is floating near 4.49% at the time of writing. And the WTI crude oil futures are going down steadily, hovering near $75.79 per barrel as of the last check.
Remarkably, the historic strike between Hollywood studios and the SAG-AFTRA has finally come to an end today, with a unanimous vote from the actor’s negotiating committee. In the meantime, EV king Tesla (TSLA) is raising prices of the long-range versions of Model 3 and Model Y by RMB 1,500 and RMB 2,500, respectively, effective today. Also, shares of Walt Disney (DIS), Twilio (TWLO), Affirm (AFRM), Virgin Galactic (SPCE), MGM Resorts (MGM), and Duolingo (DUOL) jumped in after-hours trading yesterday on solid quarterly results.
Traders are also anticipating the Weekly Initial Jobless Claims figures today. Notable earnings expected today include AstraZeneca (AZN), Sony (SONY), Li Auto (LI), Illumina (ILMN), Wynn Resorts (WYNN), Plug Power (PLUG), and Blink Charging (BLNK), among others.
Elsewhere, European indices are trading in the red on Thursday following the sentiment from their U.S. counterparts.
Asia-Pacific Markets Mostly End Higher
A majority of Asia-Pacific indices ended in the green on Thursday following positive economic data out of China. The mainland’s National Bureau of Statistics showed that the consumer price index (CPI) fell 0.2% year-over-year and the PPI fell 2.6% in October.
Hong Kong’s Hang Seng index ended lower by 0.33%, while China’s Shanghai Composite and Shenzhen Component indexes ended up by 0.03% and 0.20%, respectively.
At the same time, Japan’s Nikkei and Topix indices finished higher by 1.49% and 1.26%, respectively.
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