-
Wall Street opens Thursday session lower
-
Higher-than-expected jobless claims data deteriorates sentiment
-
AMC Entertainment climbs 13% after Delaware court ruling
The mood on the market deteriorated following weekly jobless claims data. Jobless claims data came in higher than expected at 228k against 200k expected by the market. Moreover, data for the previous week was revised higher from 198k to 246k, which can be seen as a strong bearish signal.
Labour market data show that the US economy is slowing, and the new reports only prove that. Fed Chairman Jerome Powell stressed at the last FOMC meeting that the condition of the labor market will be crucial when making decisions at the next meeting in early May.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile app
Stocks from the S&P500 index categorized by industry and sector. Cap reflects weights in the index. Source: xStation5
US500 market opens lower after jobless claims reading, source: xStation5
The probability of target rate remaining at the level of 4.75-5.00 increases after jobless claims publication. Currently the market predicts a 56% chance that rates will remain at the current level and 43% for 25 pb increase. Source: CME Group
Company news:
-
AMC Entertainment (AMC.US) shares rose 13% after a Delaware court denied the company’s motion to lift a status quo order that would speed the conversion of its shares.
-
Costco Wholesale (COST.US) - the warehouse club reported a decline in total comparable sales for March. Analysts said the update wasn’t surprising given the tough macroeconomic backdrop for retailers.
-
Fox Corp. (FOXA.US) - Argus Research downgrades the media company to hold from buy.
-
Lumentum (LITE.US) - the specialty technology hardware company reported preliminary net revenue for the third quarter that missed the average analyst estimate. Rosenblatt downgraded to neutral from buy, saying there might be more negative news ahead.
-
Pinterest Inc. (PINS.US) - Raymond James starts coverage on the social-media company with an outperform rating and $33 price target.
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
