Investing.com - U.S. stocks were mixed on Thursday, despite better-than-expected U.S. jobless claims data and optimism linked to the Bank of Japan's agressive monetary easing steps, as sharp losses in tech stocks weighed.
During early U.S. trade, the Dow Jones Industrial Average added 0.17%, the S&P 500 index edged up 0.16%, while the Nasdaq Composite index slipped 0.19%.
The Department of Labor said the number of people who filed for unemployment assistance in the U.S. fell by 42,000 to a seasonally adjusted 346,000, last week compared to expectations for a decrease of 23,000.
The data eased concerns that the recovery in the labor market was losing momentum after U.S. nonfarm payrolls data for March came in far below expectations.
Separately, market sentiment has been supported since the BoJ unveiled a massive monetary stimulus program last week, aimed at beating deflation in the world’s third largest economy.
Shares in Microsoft plunged 4.23% and Hewlett-Packard dove 6%, while Intel retreated 2.77% after market research firm IDC said worldwide shipments of personal computers tumbled 13.9% in the first quarter, the biggest drop since the firm began issuing quarterly numbers in 1994.
In the energy sector, Chesapeake Energy tumbled 1%, even as the oil and gas major won the dismissal of a securities class action lawsuit over allegations the company misled investors about its financial condition.
Chevron dipped 0.04% after saying on Wednesday its production of oil and gas has declined from a relatively strong fourth quarter while work on two of its three biggest U.S. refineries cut into downstream performance.
Yum Brands added to losses, sliding 0.25%, after saying in a filing Wednesday that the latest deadly avian flu outbreak would have a "significant, negative impact" on sales at KFC stores in China in April.
Elsewhere, financial stocks were broadly lower, as shares in Citigroup declined 0.51% and Godlman Sachs retreated 0.63%, while JP Morgan and Bank of America plummeted 0.97% and 4.04%.
On the upside, Costco Wholesale added 0.18% after it reported a 4% rise in March sales at stores open at least a year, missing market expectations, due to lower fuel prices and a strong dollar, which hurt the value of its sales overseas.
Among earnings, the Rite Aid pharmacy chain posted its second consecutive quarterly profit thanks to the filling of more prescriptions and the sale of more generic drugs, sending shares surging 12.85%.
Across the Atlantic, European stock markets were mixed to higher. The EURO STOXX 50 eased 0.04%, France’s CAC 40 climbed 0.43%, Germany's DAX added 0.27%, while Britain's FTSE 100 rose 0.24%.
During the Asian trading session, Hong Kong's Hang Seng Index added 0.3%, while Japan’s Nikkei 225 Index rallied 1.96%.
On Wednesday, the minutes of the Federal Reserve’s March meeting, which were inadvertently released ahead of schedule, showed that that a few policymakers saw quantitative easing tapering around midyear, while several others believed it would be appropriate to slow later in the year and to stop by the end of the year.
The impact of the minutes was muted as the meeting was held before nonfarm payrolls data showed that the U.S. economy added far fewer than expected jobs in March.
During early U.S. trade, the Dow Jones Industrial Average added 0.17%, the S&P 500 index edged up 0.16%, while the Nasdaq Composite index slipped 0.19%.
The Department of Labor said the number of people who filed for unemployment assistance in the U.S. fell by 42,000 to a seasonally adjusted 346,000, last week compared to expectations for a decrease of 23,000.
The data eased concerns that the recovery in the labor market was losing momentum after U.S. nonfarm payrolls data for March came in far below expectations.
Separately, market sentiment has been supported since the BoJ unveiled a massive monetary stimulus program last week, aimed at beating deflation in the world’s third largest economy.
Shares in Microsoft plunged 4.23% and Hewlett-Packard dove 6%, while Intel retreated 2.77% after market research firm IDC said worldwide shipments of personal computers tumbled 13.9% in the first quarter, the biggest drop since the firm began issuing quarterly numbers in 1994.
In the energy sector, Chesapeake Energy tumbled 1%, even as the oil and gas major won the dismissal of a securities class action lawsuit over allegations the company misled investors about its financial condition.
Chevron dipped 0.04% after saying on Wednesday its production of oil and gas has declined from a relatively strong fourth quarter while work on two of its three biggest U.S. refineries cut into downstream performance.
Yum Brands added to losses, sliding 0.25%, after saying in a filing Wednesday that the latest deadly avian flu outbreak would have a "significant, negative impact" on sales at KFC stores in China in April.
Elsewhere, financial stocks were broadly lower, as shares in Citigroup declined 0.51% and Godlman Sachs retreated 0.63%, while JP Morgan and Bank of America plummeted 0.97% and 4.04%.
On the upside, Costco Wholesale added 0.18% after it reported a 4% rise in March sales at stores open at least a year, missing market expectations, due to lower fuel prices and a strong dollar, which hurt the value of its sales overseas.
Among earnings, the Rite Aid pharmacy chain posted its second consecutive quarterly profit thanks to the filling of more prescriptions and the sale of more generic drugs, sending shares surging 12.85%.
Across the Atlantic, European stock markets were mixed to higher. The EURO STOXX 50 eased 0.04%, France’s CAC 40 climbed 0.43%, Germany's DAX added 0.27%, while Britain's FTSE 100 rose 0.24%.
During the Asian trading session, Hong Kong's Hang Seng Index added 0.3%, while Japan’s Nikkei 225 Index rallied 1.96%.
On Wednesday, the minutes of the Federal Reserve’s March meeting, which were inadvertently released ahead of schedule, showed that that a few policymakers saw quantitative easing tapering around midyear, while several others believed it would be appropriate to slow later in the year and to stop by the end of the year.
The impact of the minutes was muted as the meeting was held before nonfarm payrolls data showed that the U.S. economy added far fewer than expected jobs in March.