Wall Street Opens Slightly Higher After Losing Streak

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The stock markets in New York opened slightly higher on Thursday, after the price losses of earlier this week. Investors on Wall Street processed new data on US payment claims. They have fallen further. Attention was also paid to the interest rate decision of the European Central Bank (ECB).

 

The Dow-Jones index was 0.1 percent higher shortly after opening at 35,071 points. The broad S&P 500 rose 0.2 percent to 4,521 points, and technology exchange Nasdaq climbed 0.2 percent to 15,325 points.

Claims for benefits fell by 35,000 to 310,000 last week, the lowest level since March last year. The developments in the labour market play an important role in the interest rate policy of the Federal Reserve, the umbrella organization of central banks in the United States. If the labour market continues to improve, the Fed may decide to reduce its support measures for the economy more quickly.

Shares of major tech companies such as Apple, Microsoft, Google parent Alphabet, Facebook and Amazon were up 0.5 percent.

GameStop had to give up 10 percent after it became known that the company did worse last quarter than analysts generally expected. The chain of computer game stores is also keeping a close eye on a restructuring plan. Earlier this year, small investors pushed the share price after it was discussed on the discussion platform Reddit.

Other game companies such as Roblox, Activision Blizzard and Electronic Arts (EA) fell to 1.6 percent after reports that China has temporarily delayed the approval of all new video games.

Department store chain Macy’s, on the other hand, did well and was able to add 2 percent. As a result, stocks and prices are back on track. The company also has a solid digital strategy, analysts think.

Sportswear producer Lululemon Athletica rose 11 percent, thanks to better-than-expected quarterly figures and good prospects.

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