U.S. Stocks Down In Negative Territory, Look Headed For Another Weak Close

RTTNews | 795 days ago
U.S. Stocks Down In Negative Territory, Look Headed For Another Weak Close

(RTTNews) - U.S. stocks, which fell after a slightly positive start Thursday morning, remain firmly down in negative territory around later afternoon, and look headed for another weak close.

The major averages are all down in the red, with the Nasdaq once again posting a more pronounced loss.

The Dow is down 181.00 points or 0.52 percent at 34,584.64. The S&P 500 is down 21.77 points or 0.5 percent at 4,382.56, while the Nasdaq is down 115.24 points or 0.86 percent at 13,359.39.

The mood is bearish as the Federal Reserve's minutes, released Wednesday afternoon, indicated the central bank is likely to hold interest rates higher for longer to contain inflation.

Walgreens Boots Alliance is down 3.6 percent. Intel is declining 2.2 percent, while Boeing, Walmart, United Health, Meta Platforms and Apple Inc are down 1.4 to 1.7 percent.

JP Morgan, Goldman Sachs, Visa and Microsoft are also down in negative territory.

Walmart shares are down 1.7 percent, despite the major retailer raising its full-year guidance.

Cisco Systems is rising nearly 4 percent. Chevron, Alphabet, 3M and IBM are up 1 to 1.4 percent.

Caterpillar, J&J, American Express, Coca-Cola and Merck are up with modest gains.

In economic news, data from the Labor Department showed first-time claims for U.S. unemployment benefits saw a modest decline in the week ended August 12th.

The report said initial jobless claims slipped to 239,000, a decrease of 11,000 from the previous week's revised level of 250,000. Economists had expected jobless claims to dip to 240,000 from the 248,000 originally reported for the previous week.

Meanwhile, the Labor Department said the less volatile four-week moving average crept up to 234,250, an increase of 2,750 from the previous week's revised average of 231,500.

A report from the Federal Reserve Bank of Philadelphia said the Philadelphia Fed manufacturing index increased to +12 in August, up from -13.5 in July.

Meanwhile, the Conference Board's leading index declined 0.4 percent month-on-month in July.

In overseas trading, Asian stocks ended weak amid mounting China worries and on hawkish Fed minutes.

The major European markets closed weak on Thursday, extending recent losses, as worries about China's economic woes, interest rate and inflation concerns continued to weigh on sentiment.

read more
TSX Up Nearly 1%; Materials, Technology Stocks Climb Higher

TSX Up Nearly 1%; Materials, Technology Stocks Climb Higher

After opening with a strong positive gap, the Canadian market moved further up north Monday morning, and remains firmly placed in positive territory around mid afternoon, thanks to sustained buying at several counters in technology, materials and financials sectors.
RTTNews | 1h 40min ago
AWS Recovering After Major Outage Hits Companies, Services Worldwide

AWS Recovering After Major Outage Hits Companies, Services Worldwide

Amazon Web Services, following a major outage in its cloud computing service across the world, especiallly the United States, started recovering early Monday. AWS, tech major Amazon's cloud hosting provider, had went offline due to a problem with one of its core database products, affecting millions as it hit the websites and apps of major companies and critical services...
RTTNews | 6h 38min ago
Bay Street Likely To Open On Positive Note

Bay Street Likely To Open On Positive Note

Higher U.S. and Canadian futures and rising metal prices point to a positive start on Bay Street Monday morning. The focus will also be on Canadian economic and earnings data.
RTTNews | 7h 44min ago
European Stocks Broadly Higher; Defense Stocks Move Up

European Stocks Broadly Higher; Defense Stocks Move Up

European stocks are broadly higher on Monday, led by gains in the defense sector, amid geopolitical tensions. Easing concerns about the health of the US banking sector, and expectations of improved trade relations between China and the U.S. contribute to the positive mood in the markets.
RTTNews | 8h 1min ago
FTSE 100 Modestly Higher; Defence Stocks Shine

FTSE 100 Modestly Higher; Defence Stocks Shine

The UK stock market is modestly higher on Monday, supported by gains in shares of defence and financial companies. In addition to tracking the developments on the geopolitical and trade front, investors are also reacting to some corporate news.
RTTNews | 8h 48min ago
Sensex, Nifty Close Higher For 4th Straight Session

Sensex, Nifty Close Higher For 4th Straight Session

Indian shares closed higher for a fourth straight session on Monday, as encouraging results from Reliance Industries and several banks helped lift sentiment. Easing concerns about U.S.-China trade tensions contributed as well to the positive show by the market.
RTTNews | 9h 4min ago