U.S Markets, U.S. stocks was subdued on Thursday by negative sentiments from investors over the Federal Reserve interest rate hikes and high inflation Figures The Dow Jones Industrial Average was down 236.94 points, or 0.75%, while the Nasdaq Composite fell 0.26%. The S&P 500, which ended the session 0.58% lower, approached bear market territory.
|I:DJI||DOW JONES AVERAGES||31253.13||-236.94||-0.75%|
|I:COMP||NASDAQ COMPOSITE INDEX||11388.495467||-29.66||-0.26%|
Treasury Bills,the 10-year Treasury yield climbed above 2.8% during Thursday's session. Oil is trading at around $109 per barrel.
Economic data, on the economic data front, new U.S. jobless claims rose to a four-month high of 218,000 for the week ending May 14, up from 197,000 the previous week, according to the Labor Department. Continuing claims, or the number of people already collecting unemployment benefits, fell to 1.317 million for the week ending May 7, the lowest level since December 1969.
Aviation, Spirit Airlines' board of directors is urging the company's shareholders to reject JetBlue Airways' $30 per share tender offer. Spirit, which has agreed to merge with Frontier Airlines, has said a potential JetBlue transaction would have trouble receiving regulatory approval.
|SAVE||SPIRIT AIRLINES INC.||19.09||-0.30||-1.57%|
|JBLU||JETBLUE AIRWAYS CORP.||10.25||+0.33||+3.33%|
|ULCC||FRONTIER GROUP HOLDINGS||9.48||+0.04||+0.42%|
Cisco Systems is down more than 13% after cutting its full-year forecast. The company reported adjusted earnings per share of 87 cents on revenue of $12.84 billion. The networking equipment maker said its revenue during the quarter was negatively impacted by COVID lockdowns in China and the war in Ukraine.
|CSCO||CISCO SYSTEMS INC.||41.72||-6.64||-13.73%|
Target slipped another 5% after shedding nearly 25% on Wednesday. The company reported better-than-expected revenue of $25.17 billion during its first fiscal quarter of 2023 but missed Wall Street estimates with adjusted earnings per share of $2.19 due to higher costs and inventory.
Bitcoin is trading at the $30,000 per coin level.
SPOT MARKET BY THE HOUR AS OF GMT 09:30 05-20-22
Cryptocurrencies, at an intraday range of $29,834.82 by the hour and a maximum of $30,725 in 24 hours.