Weaker Data Takes Toll On Markets Today

Weaker Data Takes Toll On Markets Today

Underwhelming economic data prompted US stock futures to hover on Thursday, one day after one stock index endured its biggest losses in about 21 days.  



Weaker Data Takes Toll On Markets Today
Weaker Data Takes Toll On Markets Today

Two metrics – both retail sales and jobless insurance applications – came in less than forecast. But, nonetheless, the recovery of the world's largest economy continued gaining steam as economists said the economy is marching forward in its recovery. Just after 10 a.m. in New York, the Nasdaq dipped 0.25%, a fall of 10.7 points to 4,321.57; the S&P 500 edged down 0.19%, a fall of 3.71 points to 1,940.34; and the Dow dipped 0.21%, a drop of 35.61 points to 16,808.27.

Retail sales climbed 0.3% last month, about half the forecast growth rate. Claims for unemployment insurance climbed earlier this month, another factor that came as a surprise. The S&P has endured two days of losses, including Wednesday slippage that marks the index' biggest one day loss since late May.

Bloomberg reports jobless claims checked in at 317,000 last week, surging past the median projection of economists polled by the news service. While those forecasts checked in at 310,000, thus far this year applications have amounted to 324,000.

European stocks push higher
Shifting east, European stocks were on the rise on Thursday, according to MarketWatch. While the Stoxx Europe 600 rose on Thursday, the metric endured some challenges during the day prior, drawing down after notching its highest level since early 2008. Economic data noted industrial production in the euro zone climbed in April, demonstrating the region saw faster development and growth during the early component of the second quarter of the year.

As part of the drive to encourage a growth uptick, the European Central Bank implemented steps designed to encourage growth and economic activity while also spurring inflation. France, the host of the second-largest economy in the euro zone, released data noting consumer prices remained even last month, showing minimal advancement from the month prior.

Home prices in the UK, considered the third-largest economy in Europe, ticked up last month, according to data released by the Royal Institution of Chartered Surveyors. Despite the gains, additional data indicated demand is poised to slow in a nation whose central bank officials have expressed concerns about the housing market.

Regulated Exchange
Nadex is a Designated Contract Market and Derivatives Clearing Organization, subject to regulatory oversight by the Commodity Futures Trading Commission (CFTC).

 
 
 

This information has been prepared by Nadex, a trading name of North American Derivatives Exchange


This information has been prepared by Nadex, a trading name of North American Derivatives Exchange, Inc., prepared by independent third parties contracted by Nadex or reproduced form third party news agencies. In addition to the disclaimer below, the material on this page does not contain an offer of, or solicitation for, a transaction in any financial instrument. Nadex accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.