Wall Street opens lower as jobless claims rise

FILE PHOTO: The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New York, U.S., March 9, 2020. REUTERS/Carlo Allegri/File Photo

(Reuters) – Wall Street opened lower on Thursday as a surprise increase in weekly jobless claims signaled that a labor market recovery was cooling and that more fiscal support would be necessary to avoid another round of mass layoffs and furloughs.

The Dow Jones Industrial Average .DJI fell 47.04 points, or 0.18%, at the open to 26,716.09. The S&P 500 .SPX opened lower by 10.78 points, or 0.33%, at 3,226.14, while the Nasdaq Composite .IXIC dropped 81.97 points, or 0.77%, to 10,551.02 at the opening bell.

Source: Read Full Article