Wall Street edges lower as jobless claims unexpectedly rise

wall street edges lower as jobless claims unexpectedly rise

Sumary of Wall Street edges lower as jobless claims unexpectedly rise:

  • Investors have been closely following the health of the jobs market on which the Federal Reserve’s monetary policy hinges, especially after a series of higher inflation reading recently sparked fears about a sooner-than expected paring of policy support as the economy reopens.
  • A shift in attention to corporate earnings and the so-called value stocks have helped Wall Street recoup most of its declines from earlier in the week that were triggered by concerns about the fast-spreading Delta variant of the coronavirus.
  • Declining issues outnumbered advancers for a 2.45-to-1 ratio on the NYSE and 2.46-to-1 ratio on the Nasdaq.
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