|09-12-2014, 02:09 PM||#1|
Wall Street opens lower after jobless claims data, Lululemon soars
Wall Street opened lower on Thursday as investors digested labor sector data and geopolitical issues.
Jobless claims rose by 11,000 to 315,000 in the latest week, more than the 300,000 claims expected by economists polled by Bloomberg. The period included the Labor Day holiday, which could have distorted the level of claims.
Both the Dow and the S&P 500 have paused this month, declining 0.2% and 0.4%, respectively, through Wednesday`s close. The lack of major economic data this week has turned the spotlight on next week`s Federal Reserve meeting, where officials could provide more clarity on the timing and pace of interest-rate increases.
The benchmark 10-year Treasury yield fell Thursday, snapping a five-session streak of gains. The 10-year yield fell to 2.515%. Treasury yields rise as prices fall.
-The Dow Jones Industrial Average fell 0.20% or 34.84 points to 17034.35
-The S&P 500 index fell 0.25% or 4.94 points to 1990.89
-The NASDAQ Composite Index fell 0.13% or 5.73 points to 4580.83 . As of 09:55 a.m. ET
U.S. President Barack Obama on Wednesday introduced a plan to fight the militant group Islamic State, authorizing airstrikes in Syria and broadening a bombing campaign in Iraq.
In corporate news, Twitter Inc. announced its first sale of debt to support its growing business. The company aims to raise as much as $1.5 billion. Shares were down 0.45%.
Lululemon Athletica reported better-than-estimated second quarter results. The yoga-gear maker also increased its full-year profit guidance. Shares were up 17.23%.
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