Wall Street opens lower after jobless claims
Wall Street opened lower after the announcement of an unexpected rise in weekly unemployment registrations, which rekindled investor concerns about the state of the U.S. labor market on the eve of the release of employment figures of the month July.
The Dow Jones lost 0.54%, to 10,622.61 points, the S & P 500, 0.63%, to 1120.16 points, while the Nasdaq Composite yielded 0.57%, to 2290.54 points.
Entries weekly unemployment rose in the United States during the week to July 31, at 479 000 460 000 cons (revised from 457,000) the previous week and 455,000 expected by economists.
Investors are more anxious with respect to the U.S. labor market as unemployment remains high, which is a major obstacle to economic recovery, however, that the latest macroeconomic statistics were considered disappointing.
Viacom fell by 0.29%, after publishing a turnover less than anticipated due to a decline in sales of DVDs, despite a better than expected quarterly profit.
By contrast, News Corp. jumped 4.55%, the media group has been beneficial for its fourth fiscal quarter due to strong performance of its cable networks and advertising revenue growth of its newspapers.
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- Wall Street will be awaiting the outcome indicators and
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