Stocks open lower after rise in jobless claims
- Share via
Stocks slid in early trading on Wall Street today following an unexpected rise in jobless claims last week, another sign of the labor market’s sluggish recovery.
The Dow Jones industrial average lost 82 points, or 0.6%, to 13,091 shortly after the opening bell.
The broader Standard & Poor’s 500 index lost 8 points, or 0.6%, to 1,406. The Nasdaq was down 20 points, or 0.7%, to 3,054.
The U.S. Department of Labor reported initial jobless claims stood at a seasonally adjusted 372,000 last week, up 4,000 from the previous week’s 368,000.
Downbeat data could push the Federal Reserve closer to injecting more monetary stimulus into the economy, which would likely push up stock values.
ALSO:
Auto loan delinquencies fall to lowest rate on record
CBO: Accepting “fiscal cliff” would accelerate economic downturn
Middle-class income and wealth fell in last 10 years, survey shows
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
