Thursday’s Midday Movers: 3 Stories Driving Markets
The major U.S. markets were trading higher on Thursday thanks to a wave of strong earnings reports. As of noon:
|DIJA: +0.55% to 15,498.16||S&P 500: +0.26% to 1,750.98||NASDAQ: +0.51% to 3,927.00|
|Gold: +3.19% to 75.34||Oil: -0.52% to 22.76||U.S. 10-Year: +0.89% to 25.07|
Here are three stories helping shape the market Thursday afternoon.
1. Jobless Claims: Still Inflation from Government Shenanigans: First-time claims for unemployment benefits have edged up since September, thanks in part to three consecutive weeks of technical problems in California, which have caused delays in application processing. The partial government shutdown also inflated first-time application numbers because a number of government contractors were laid off temporarily, although furloughed federal workers were not included in the claims data, according to the Department of Labor.
After spiking to a six-month high in the week ended October 5, applications have declined for the past two weeks. As the Bureau of Labor Statistics reported Thursday, the number of Americans seeking unemployment benefits dropped by 12,000 to a seasonally adjusted 350,000 in the week ended October 19… (Read more.)