Dow futures were pointing to about a 300 point decline at Thursday’s open after the Labor Department’s weekly report showed fewer than expected but persistently high new jobless claims. The Dow Jones Industrial Average was able to hold on to gains Wednesday, though it closed well off the highs after the Federal Reserve pledged to keep interest rates low for years. Tech stocks dragged the S&P 500 and Nasdaq lower, as they did last week. They were under pressure again Thursday.
Filings for initial unemployment benefits for the week ending Sept. 12 totaled 860,000 after the prior week’s 893,000, as the U.S. job market continues its plodding climb from the depths of the economic damage caused by the coronavirus pandemic. Following a peak of 6.9 million in late March, new claims had remained above 1 million a week through late August. (CNBC)
Source Article from https://www.cnbc.com/2020/09/17/5-things-to-know-before-the-stock-market-opens-september-17-2020.html
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