US stock market opens lower despite positive data

Alaturka Ekonomi Haberleri

By Ovunc Kutlu

ANKARA (AA) – Major US stock indexes opened lower Thursday despite positive data in the labor market.

Weekly jobless claims fell 111,000 to 730,000 last week to its lowest level in three months, indicating an improvement in the labor market.

But the news did not move investors.

The Dow Jones was down seven points to 31,954 at 9.35 a.m. EDT (1435GMT), while the S&P 500 fell three points to 3,942. The Nasdaq was off 21 to 13,575.

The 10-year US Treasury yield soared 5.5% to 1.466% just before markets opened — its highest level since Feb. 23, 2020.

The VIX volatility index, which fell 7.6% in the previous session signaling a calming of investors, was up again Thursday. The fear index was at 22.86 — a 7.1% gain.

Despite the recovery in recent days, precious metals were down again with gold at $1,781 per ounce with a 1.3% loss and silver fell 0.5% to $27.8.

A rally in oil prices was halted with Brent crude at $65.9 per barrel and US' West Texas Intermediate at $62.9 — both down 0.5%.

Bitcoin saw a combined loss of nearly 20% Monday and Tuesday, was trying to find support just above the $51,000 mark with a 3.3% gain around the opening bell.

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