Investing.com - U.S. stocks were little changed on Thursday, after disappointing U.S. jobless data as investors remained cautious ahead of long awaited comments by Federal Reserve Chairman Ben Bernanke on the central bank’s next policy steps.
During early U.S. trade, the Dow Jones Industrial Average inched up 0.02%, the S&P 500 index eased 0.04%, while the Nasdaq Composite index added 0.15%.
The U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending September 8 rose by 15,000 to a seasonally adjusted 382,000, compared to expectations for an increase of 3,000 to 370,000.
The previous week’s figure was revised up to 367,000 from a previously reported 365,000.
The data came as markets were eyeing the outcome of the Fed’s policy meeting later Thursday, amid growing speculation that the U.S. central bank may implement a third round of quantitative easing to bolster growth.
Apple shares were up 1%, one day after unveiling its newest iPhone, the iPhone5, which has a bigger screen, a faster chip and access to speedier wireless networks. The company also introduced some new iPods.
Also in the tech sector, Intel dropped 0.97% and Advanced Micro Devices tumbled 2.57% after Citigroup lowered its recommendations on both firms.
Elsewhere, aerospace and defense giant Boeing saw shares decline 0.37%, after French and U.K. rivals, EADS and BAE Systems, announced that they were in talks about a potential merger to build an equal to Boeing that would balance civil and defense operations.
Commenting on the announcement, Boeing officials said earlier that a merger that would transform rival EADS into the world’s biggest aerospace business may be intended to win more sales in the U.S., the largest defense market.
In the energy sector, shares in Chesapeake tumbled 0.90%, after the oil major on Wednesday sold USD6.9 billion in oil and gas drilling, leasehold, pipeline and terminal assets deemed as “non-core”. Rival groups Chevron and Exxon Mobil were down 0.19% and 0.01% respectively.
Meanwhile, Abercrombie & Fitch advanced 0.69% amid reports activist investor Ralph Whitworth asked the company to cut back on spending and opening international stores.
Also on the upside, Pier 1 Imports rallied 2.25% after the furniture retailer raised its full-year guidance as same-store sales and store traffic saw a boost.
Across the Atlantic, European stock markets were mixed. The EURO STOXX 50 plunged 1.10%, France’s CAC 40 tumbled 1.24%, Germany's DAX dropped 0.53%, while Britain's FTSE 100 added 0.14%.
During the Asian trading session, Hong Kong's Hang Seng Index fell 0.14%, while Japan’s Nikkei 225 Index rose 0.39%.
Also Thursday, data showed that producer prices in the U.S. rose by a seasonally adjusted 1.7% in August, compared to expectations for a 1.1% increase, after rising 0.3% in July.
Later in the day, the Federal Reserve was to announce its benchmark interest rate, followed by comments by Chairman Ben Bernanke.
During early U.S. trade, the Dow Jones Industrial Average inched up 0.02%, the S&P 500 index eased 0.04%, while the Nasdaq Composite index added 0.15%.
The U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending September 8 rose by 15,000 to a seasonally adjusted 382,000, compared to expectations for an increase of 3,000 to 370,000.
The previous week’s figure was revised up to 367,000 from a previously reported 365,000.
The data came as markets were eyeing the outcome of the Fed’s policy meeting later Thursday, amid growing speculation that the U.S. central bank may implement a third round of quantitative easing to bolster growth.
Apple shares were up 1%, one day after unveiling its newest iPhone, the iPhone5, which has a bigger screen, a faster chip and access to speedier wireless networks. The company also introduced some new iPods.
Also in the tech sector, Intel dropped 0.97% and Advanced Micro Devices tumbled 2.57% after Citigroup lowered its recommendations on both firms.
Elsewhere, aerospace and defense giant Boeing saw shares decline 0.37%, after French and U.K. rivals, EADS and BAE Systems, announced that they were in talks about a potential merger to build an equal to Boeing that would balance civil and defense operations.
Commenting on the announcement, Boeing officials said earlier that a merger that would transform rival EADS into the world’s biggest aerospace business may be intended to win more sales in the U.S., the largest defense market.
In the energy sector, shares in Chesapeake tumbled 0.90%, after the oil major on Wednesday sold USD6.9 billion in oil and gas drilling, leasehold, pipeline and terminal assets deemed as “non-core”. Rival groups Chevron and Exxon Mobil were down 0.19% and 0.01% respectively.
Meanwhile, Abercrombie & Fitch advanced 0.69% amid reports activist investor Ralph Whitworth asked the company to cut back on spending and opening international stores.
Also on the upside, Pier 1 Imports rallied 2.25% after the furniture retailer raised its full-year guidance as same-store sales and store traffic saw a boost.
Across the Atlantic, European stock markets were mixed. The EURO STOXX 50 plunged 1.10%, France’s CAC 40 tumbled 1.24%, Germany's DAX dropped 0.53%, while Britain's FTSE 100 added 0.14%.
During the Asian trading session, Hong Kong's Hang Seng Index fell 0.14%, while Japan’s Nikkei 225 Index rose 0.39%.
Also Thursday, data showed that producer prices in the U.S. rose by a seasonally adjusted 1.7% in August, compared to expectations for a 1.1% increase, after rising 0.3% in July.
Later in the day, the Federal Reserve was to announce its benchmark interest rate, followed by comments by Chairman Ben Bernanke.