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9 Apr 2015
US stocks trade flat
FXStreet (Mumbai) - The stock markets in the US trade flat as investors remain on the sidelines ahead of the latest batch of first-quarter earnings.
The Dow Jones Industrial Average gained slipped 2.51 points, or 0.01%, to 17900 in early trading. The S&P 500 trades largely unchanged at 2082.50. The Nasdaq Composite Index gained five points, or 0.11% to 4955.82. The markets are extremely quiet today after the Dow added 0.2% to 17902.51 and the S&P 500 gained 0.3% to 2081.90 in the previous session.
In economic news, the Labor Department said jobless claims rose by 14,000 to 281,000 in the week ended April 4. The four-week moving average of the initial jobless claims, a more accurate measure of labor market strength, dropped by 3,000 to 282,250 and touched the lowest level since June 2000, while continuing claims decreased by 23,000 to a seasonally adjusted 2.3 million in the week ended March 28, the smallest amount in 15 years.
Meanwhile, Alcoa Inc. first quarter results showed the company swung to a profit, but its revenue missed analysts’ expectations. Shares fell 3.8%.
The Dow Jones Industrial Average gained slipped 2.51 points, or 0.01%, to 17900 in early trading. The S&P 500 trades largely unchanged at 2082.50. The Nasdaq Composite Index gained five points, or 0.11% to 4955.82. The markets are extremely quiet today after the Dow added 0.2% to 17902.51 and the S&P 500 gained 0.3% to 2081.90 in the previous session.
In economic news, the Labor Department said jobless claims rose by 14,000 to 281,000 in the week ended April 4. The four-week moving average of the initial jobless claims, a more accurate measure of labor market strength, dropped by 3,000 to 282,250 and touched the lowest level since June 2000, while continuing claims decreased by 23,000 to a seasonally adjusted 2.3 million in the week ended March 28, the smallest amount in 15 years.
Meanwhile, Alcoa Inc. first quarter results showed the company swung to a profit, but its revenue missed analysts’ expectations. Shares fell 3.8%.