US stocks slip as traders weigh the first jobless-claim increase since March against stimulus hopes
- US stocks slipped on Thursday as weekly jobless claims rose for the first time since March.
- Investors are also watching for signs that Congress will announce more stimulus measures to replace the $600 weekly unemployment benefit set to expire at the end of July.
- Shares of Tesla and Twitter climbed following positive earnings results.
- Read more on Business Insider.
US stocks slid on Thursday as investors digested the first rise in weekly jobless claims since March.
New US weekly jobless claims totaled 1.42 million in the week that ended on Saturday, the Labor Department reported. That was above the consensus economist estimate of 1.3 million compiled by Bloomberg. It also exceeded the prior week’s 1.3 million filings, the first increase in 15 weeks.
New coronavirus cases continue to climb in the US. Total infections have surpassed 3.9 million, according to data from Johns Hopkins University. The spike in cases has threatened the economic recovery as many states have had to pause or roll back reopening plans.
Here’s where US indexes stood shortly after the 9:30 a.m. ET market …continued .
[Source: Business Insider]