- Arun Goswami
- 18 Nov, 2024
- Mumbai
Stocks opened lower in Mumbai trading amid weak market sentiment for the third week in a row.
The Sensex index decreased 0.4% to 77,263.74, and the Nifty index dropped 0.45% to 23,439.05.
Foreign investors continue to sell large- and mid-cap stocks after weak earnings and persistent inflation dented market sentiment.
Moreover, foreign investors are repatriating funds to the U.S. to take advantage of rising bond yields and hope that the next U.S. administration will enact pro-business policies.
Foreign investors are also hoping that China's leaders will follow through on the promised broad fiscal reforms to support consumer sentiment and the flailing property market.
Closer to home, consumer price inflation jumped to a 14-month high in October, supporting the case for the central bank to keep interest rates unrevised at its next policy meeting.
Meanwhile, investors are looking forward to the Maharashtra State election on December 20, which could deliver a win to an alliance headed by the BJP, strengthening the party's standing in the center.
E.I.D. Parry decreased 2.4% to ₹762.45 after the sugar company reported mixed quarterly results.
Revenue in the September quarter increased to ₹9,399.3 crore from ₹9,210.3 crore, but after-tax income decreased to ₹591.7 crore from ₹781.9 crore a year ago, respectively.
For the six-month period ending in September, consolidated revenue edged lower to ₹16,206.71 crore from ₹16,225.8 crore, and net income fell to ₹817.5 crore from ₹1,106.7 crore a year ago.
Easy Trip Planners increased 1.1% to ₹30.38 after the Delhi-based online travel agency reported a decline in after-tax profit in the September quarter.
Consolidated revenue increased 2.1% to ₹144.7 crore from ₹141.7 crore, but net profit declined 45.2% to ₹26 crore from ₹47.1 crore a year ago, respectively.
Hotel night bookings soared 75.3% 2.2 lakh or 1.3 lakh and train and bus bookings rose 3.3% to 2.8 lakh from a year ago, respectively.
Gross booking revenue across the platform increased to ₹2,075.6 crore from ₹2,025 crore, and hotels and packages jumped 178% to ₹241.4 crore a year ago, respectively.
The company's booking services generally receive very low ratings from online customers, with several allegations of poor customer support and misleading prices.
Hindustan Zinc increased 0.4% to ₹496.90, and the company won gold mining rights through an auction in Rajasthan.
Crompton Greaves Consumer Electricals increased 3.9% to ₹384.50 after the company reported September quarter results.
Revenue increased 6.4% to 1,896 crore from 1,782.3 crore, and net income jumped 28.6% to 125 crore from 97.2 crore a year ago, respectively.
Delhivery decreased 1.0% to ₹327.30, and the logistics company swung to profit in the September quarter.
Revenue increased 12.8% to ₹2,189.7 crore, and net income swung to a profit of ₹10.2 crore from a loss of ₹102.9 crore a year ago, respectively.
Grasim Industries declined 1% to ₹2,499.75 after the cement company reported a sharp fall in profit in the September quarter.
Revenue increased 11% to ₹33,562 crore from ₹30,221 crore, and net income plunged 66% to ₹390 crore from ₹1,164 crore a year ago, respectively.
- Barry Adams
- 15 Nov, 2024
- New York City
The post-election bump on Wall Street appears to be fizzing out as investors review the latest comments from Fed Chairman and retail sales update.
The S&P 500 index edged down 0.1% and the Nasdaq Composite declined 0.2% after Fed Chair Jay Powell reiterated that the central bank is not in a hurry to lower rates.
Powell's comments follow a 25 basis points rate cut last week, and investors held out for one more potential rate cut in December.
Investors are also worried that stocks may face more headwinds in the months ahead as president-elect Donald Trump struggles to assemble a list of candidates with experience and knowledge.
So far, cabinet appointments have raised more eyebrows in Washington, and many of the nominated candidates are likely to face serious questions from the U.S. Senate.
On the economic front, retail sales rose 2.8% from a year ago in October, following an upwardly revised 2.0% in the previous month, the U.S. Census Bureau reported Friday.
Retail sales rose 0.4% from the previous month, driven by an increase of 2.3% in electronics and appliance stores and 1.9% in auto dealers.
However, book stores declined 1.1%, furniture stores fell 1.3%, and miscellaneous stores decreased 1.6%.
U.S. Indexes and Treasury Yields
The S&P 500 index decreased 0.8% to 5,903.82, the Nasdaq Composite fell 1.3% to 18,858.55, and the Russell 2000 index declined 1.4% to 2,336.94.
The yield on 2-year Treasury notes edged higher to 4.31%, 10-year Treasury notes inched down to 4.43%, and 30-year Treasury bonds decreased to 4.60%.
WTI crude oil increased $0.47 to $72.08 a barrel, and natural gas prices edged down 7 cents to $2.71 a thermal unit.
Gold decreased by $2.24 to $2,564.50 an ounce, and silver increased by $0.14 to $30.53.
The dollar index, which weighs the US currency against a basket of foreign currencies, edged lower to 106.64.
U.S. Stock Movers
Tesla declined 2% to $309.18 after the electric vehicle maker soared as much as 25% following the U.S. presidential election results.
Chief executive Elon Musk is perceived as one of the key beneficiaries of Donald Trump's return to the White House after he poured as much as $200 million into supporting the president-elect.
Applied Materials dropped 9% to $169.19 after the chip equipment maker reported better-than-expected quarterly results, but the company's sales outlook in the current quarter fell short of market expectations.
Alibaba Group Holding increased 0.9% to $90.70 after the China-based e-commerce platform operator reported weaker-than-expected sales in the fiscal second quarter.
Revenue increased 5% to 236.5 billion yuan amid ongoing weak consumer demand in the second-largest economy, but net income soared 58%, driven by a surge in its equity investment performance.
Ulta Beauty dropped 6% to $360.0 after Berkshire Hathaway sold off its entire stake in the company, but Domino's Pizza increased 4.9% to $456.99 after the diversified conglomerate added the company to its investment portfolio.
- Barry Adams
- 15 Nov, 2024
- New York City
The post-election bump on Wall Street appears to be fizzing out as investors review the latest comments from Fed Chairman and retail sales update.
The S&P 500 index edged down 0.1% and the Nasdaq Composite declined 0.2% after Fed Chair Jay Powell reiterated that the central bank is not in a hurry to lower rates.
Powell's comments follow a 25 basis points rate cut last week, and investors held out for one more potential rate cut in December.
Investors are also worried that stocks may face more headwinds in the months ahead as president-elect Donald Trump struggles to assemble a list of candidates with experience and knowledge.
So far, cabinet appointments have raised more eyebrows in Washington, and many of the nominated candidates are likely to face serious questions from the U.S. Senate.
On the economic front, retail sales rose 2.8% from a year ago in October, following an upwardly revised 2.0% in the previous month, the U.S. Census Bureau reported Friday.
Retail sales rose 0.4% from the previous month, driven by an increase of 2.3% in electronics and appliance stores and 1.9% in auto dealers.
However, book stores declined 1.1%, furniture stores fell 1.3%, and miscellaneous stores decreased 1.6%.
U.S. Indexes and Treasury Yields
The S&P 500 index decreased 0.8% to 5,903.82, the Nasdaq Composite fell 1.3% to 18,858.55, and the Russell 2000 index declined 1.4% to 2,336.94.
The yield on 2-year Treasury notes edged higher to 4.31%, 10-year Treasury notes inched down to 4.43%, and 30-year Treasury bonds decreased to 4.60%.
WTI crude oil increased $0.47 to $72.08 a barrel, and natural gas prices edged down 7 cents to $2.71 a thermal unit.
Gold decreased by $2.24 to $2,564.50 an ounce, and silver increased by $0.14 to $30.53.
The dollar index, which weighs the US currency against a basket of foreign currencies, edged lower to 106.64.
U.S. Stock Movers
Tesla declined 2% to $309.18 after the electric vehicle maker soared as much as 25% following the U.S. presidential election results.
Chief executive Elon Musk is perceived as one of the key beneficiaries of Donald Trump's return to the White House after he poured as much as $200 million into supporting the president-elect.
Applied Materials dropped 9% to $169.19 after the chip equipment maker reported better-than-expected quarterly results, but the company's sales outlook in the current quarter fell short of market expectations.
Alibaba Group Holding increased 0.9% to $90.70 after the China-based e-commerce platform operator reported weaker-than-expected sales in the fiscal second quarter.
Revenue increased 5% to 236.5 billion yuan amid ongoing weak consumer demand in the second-largest economy, but net income soared 58%, driven by a surge in its equity investment performance.
Ulta Beauty dropped 6% to $360.0 after Berkshire Hathaway sold off its entire stake in the company, but Domino's Pizza increased 4.9% to $456.99 after the diversified conglomerate added the company to its investment portfolio.
- Inga Muller
- 15 Nov, 2024
- Frankfurt
Benchmark indexes in the eurozone fell between 1% and 2% as investors worried about the rising trade tensions with the U.S. and Europe and uncertainty about NATO financing in 2025 following the U.S. elections and political instability in Germany.
The DAX index decreased by 0.1% to 19,252.48; the CAC-40 index eased by 0.1% to 7,304.66; and the FTSE 100 index rose by 0.1% to 8,075.84.
The yield on 10-year German bonds edged lower to 2.33%, French bonds inched lower to 3.06%, the UK gilts edged lower to 4.48%, and Italian bonds decreased to 3.52%.
Generali SpA increased 0.4% to €25.61 after the Italian insurance company reported better-than-expected nine-month profit, despite a €930 million charge linked to natural disasters.
Aegon Ltd. increased 2% to €6.18 after the Dutch insurance company launched a stock buyback worth €150 million.
ASML Holding NV declined 3.5% to €648.20 after the advanced chip equipment maker Applied Materials reported better-than-expected profit in its latest quarter but provided weaker-than-expected sales outlook in the current quarter.
Evotec soared 17.8% to €10.18 after the German drug company received a non-binding €2 billion acquisition offer from Halozyme Therapeutics.
- Inga Muller
- 15 Nov, 2024
- Frankfurt
Benchmark indexes in the eurozone fell between 1% and 2% as investors worried about the rising trade tensions with the U.S. and Europe and uncertainty about NATO financing in 2025 following the U.S. elections and political instability in Germany.
The DAX index decreased by 0.1% to 19,252.48; the CAC-40 index eased by 0.1% to 7,304.66; and the FTSE 100 index rose by 0.1% to 8,075.84.
The yield on 10-year German bonds edged lower to 2.33%, French bonds inched lower to 3.06%, the UK gilts edged lower to 4.48%, and Italian bonds decreased to 3.52%.
Generali SpA increased 0.4% to €25.61 after the Italian insurance company reported better-than-expected nine-month profit, despite a €930 million charge linked to natural disasters.
Aegon Ltd. increased 2% to €6.18 after the Dutch insurance company launched a stock buyback worth €150 million.
ASML Holding NV declined 3.5% to €648.20 after the advanced chip equipment maker Applied Materials reported lower-than-expected profit in its latest quarter.
Evotec soared 17.8% to €10.18 after the German drug company received a non-biding €2 billion acquisition offer from Halozyme Therapeutics.
- Bridgette Randall
- 15 Nov, 2024
- London
European markets turned cautious in Friday's trading as investors reviewed the latest economic updates and corporate news.
Benchmark indexes in Paris, Frankfurt, Milan, and London traded in a tight range with a negative bias following a surge of as much as 1% in the previous session.
For the second week in a row, market sentiment has been cautious amid worries of an expected rise in trade tensions with the U.S. and China overshadowed in 2025.
On the economic front, Germany's annual wholesale price inflation slowed to 0.8% in October, slower than 1.1% in September, the Federal Statistical Office, or Destatis, reported Friday.
The U.K.'s GDP contracted in September, and growth slowed to the lowest level in three quarters amid weak consumer spending.
On a sequential basis, GDP growth slowed to an increase of mere 0.1% and below 0.5% in the second quarter and 0.7% in the first quarter, according to the data released by the Office for National Statistics.
GDP accelerated at an annual pace of 1% in the third quarter, following the rise of 0.7% in the second quarter and 0.3% in the first quarter, and expanded for the third quarter in a row.
The pound dropped to a four-month low after the GDP contracted in September and anemic growth in the third quarter.
Europe Indexes and Yields
The DAX index decreased by 0.1% to 19,252.48; the CAC-40 index eased by 0.1% to 7,304.66; and the FTSE 100 index rose by 0.1% to 8,075.84.
The yield on 10-year German bonds edged lower to 2.33%, French bonds inched lower to 3.06%, the UK gilts edged lower to 4.48%, and Italian bonds decreased to 3.52%.
The euro edged lower to $1.05; the British pound inched down to $1.26; and the U.S. dollar strengthened to 88.79 Swiss cents.
Brent crude decreased $0.71 to $71.84 a barrel, and the Dutch TTF natural gas fell by €0.61 to €45.73 per MWh.
Europe Stock Movers
Generali SpA increased 0.4% to €25.61 after the Italian insurance company reported better-than-expected nine-month profit, despite a €930 million charge linked to natural disasters.
Aegon Ltd. increased 2% to €6.18 after the Dutch insurance company launched a stock buyback worth €150 million.
ASML Holding NV declined 3.5% to €648.20 after the advanced chip equipment maker Applied Materials reported better-than-expected profit in its latest quarter but provided weaker-than-expected sales outlook in the current quarter.
Evotec soared 17.8% to €10.18 after the German drug company received a non-biding €2 billion acquisition offer from Halozyme Therapeutics.
- Bridgette Randall
- 15 Nov, 2024
- London
European markets turned cautious in Friday's trading as investors reviewed the latest economic updates and corporate news.
Benchmark indexes in Paris, Frankfurt, Milan, and London traded in a tight range with a negative bias following a surge of as much as 1% in the previous session.
For the second week in a row, market sentiment has been cautious amid worries of an expected rise in trade tensions with the U.S. and China overshadowed in 2025.
On the economic front, Germany's annual wholesale price inflation slowed to 0.8% in October, slower than 1.1% in September, the Federal Statistical Office, or Destatis, reported Friday.
The U.K.'s GDP contracted in September, and growth slowed to the lowest level in three quarters amid weak consumer spending.
On a sequential basis, GDP growth slowed to an increase of mere 0.1% and below 0.5% in the second quarter and 0.7% in the first quarter, according to the data released by the Office for National Statistics.
GDP accelerated at an annual pace of 1% in the third quarter, following the rise of 0.7% in the second quarter and 0.3% in the first quarter, and expanded for the third quarter in a row.
The pound dropped to a four-month low after the GDP contracted in September and anemic growth in the third quarter.
Europe Indexes and Yields
The DAX index decreased by 0.1% to 19,252.48; the CAC-40 index eased by 0.1% to 7,304.66; and the FTSE 100 index rose by 0.1% to 8,075.84.
The yield on 10-year German bonds edged lower to 2.33%, French bonds inched lower to 3.06%, the UK gilts edged lower to 4.48%, and Italian bonds decreased to 3.52%.
The euro edged lower to $1.05; the British pound inched down to $1.26; and the U.S. dollar strengthened to 88.79 Swiss cents.
Brent crude decreased $0.71 to $71.84 a barrel, and the Dutch TTF natural gas fell by €0.61 to €45.73 per MWh.
Europe Stock Movers
Generali SpA increased 0.4% to €25.61 after the Italian insurance company reported better-than-expected nine-month profit, despite a €930 million charge linked to natural disasters.
Aegon Ltd. increased 2% to €6.18 after the Dutch insurance company launched a stock buyback worth €150 million.
ASML Holding NV declined 3.5% to €648.20 after the advanced chip equipment maker Applied Materials reported lower-than-expected profit in its latest quarter.
Evotec soared 17.8% to €10.18 after the German drug company received a non-biding €2 billion acquisition offer from Halozyme Therapeutics.
- Li Chen
- 15 Nov, 2024
- Hong Kong
Stock market indexes in China and Hong Kong diverged as investors digested a flood of economic updates and corporate earnings.
The Hang Seng index advanced 0.5%, and the mainland-focused CSI 300 index declined 0.5%.
Market indexes in Hong Kong edged higher after the latest updates on retail sales and new home sales supported a slight rebound in market sentiment.
Retail sales growth in October accelerated to 4.8% compared to 3.2% in September, the National Bureau of Statistics reported Friday.
Retail sales advanced following the raft of economic measures announced by the government in late September to stabilize the property market and facilitate lending to new home buyers.
New home sales across 70 leading cities in China declined at an annual pace of 5.9% in October, faster than the 5.8% in the previous month, the government agency reported in a separate report.
However, the monthly rate of decline of 0.5% was the smallest in seven months.
New home prices declined for the 16th month in a row and fell at the fastest pace since April 2015, despite several measures by policymakers to facilitate transactions.
Industrial output increased 5.3% last month, a slight decline from the 5.4% annual pace in September.
The urban jobless rate edged slightly lower to 5.0%, compared to 5.1% in September, according to separate reports from the statistical bureau.
China's jobless rate data are viewed with a high rate of suspicion, and most international economists believe that the true rate of jobless rate in China is well over 12% when smaller and rural areas are included.
China Stock Movers
The Hang Seng index gained 0.5% to 19,538.43, and the mainland-focused CSI 300 index decreased 0.5% to 4,018.87.
NetEase Inc. increased 12.9% to HK $135.0 after the online gaming company reported better-than-expected revenues.
Alibaba Group declined 0.5% to HK $87.75 ahead of the e-commerce platform operator's quarterly results later in the day after the close of trading.
Longfor Group increased 1.1% to HK $11.48, China Vanke declined 1.4% to HK $6.49, and China Land Resource Land declined 1.3% to HK $23.75.
Jiangsu Guofu Hydrogen Energy Equipment soared 20% to HK$78.0 on its first day of trading in Hong Kong after the company raised HK$390 million through the sale of 6 million shares.
- Li Chen
- 15 Nov, 2024
- Hong Kong
Stock market indexes in China and Hong Kong diverged as investors digested a flood of economic updates and corporate earnings.
The Hang Seng index advanced 0.5%, and the mainland-focused CSI 300 index declined 0.5%.
Market indexes in Hong Kong edged higher after the latest updates on retail sales and new home sales supported a slight rebound in market sentiment.
Retail sales growth in October accelerated to 4.8% compared to 3.2% in September, the National Bureau of Statistics reported Friday.
Retail sales advanced following the raft of economic measures announced by the government in late September to stabilize the property market and facilitate lending to new home buyers.
New home sales across 70 leading cities in China declined at an annual pace of 5.9% in October, faster than the 5.8% in the previous month, the government agency reported in a separate report.
However, the monthly rate of decline of 0.5% was the smallest in seven months.
New home prices declined for the 16th month in a row and fell at the fastest pace since April 2015, despite several measures by policymakers to facilitate transactions.
Industrial output increased 5.3% last month, a slight decline from the 5.4% annual pace in September.
The urban jobless rate edged slightly lower to 5.0%, compared to 5.1% in September, according to separate reports from the statistical bureau.
China's jobless rate data are viewed with a high rate of suspicion, and most international economists believe that the true rate of jobless rate in China is well over 12% when smaller and rural areas are included.
China Stock Movers
The Hang Seng index gained 0.5% to 19,538.43, and the mainland-focused CSI 300 index decreased 0.5% to 4,018.87.
NetEase Inc. increased 12.9% to HK $135.0 after the online gaming company reported better-than-expected revenues.
Alibaba Group declined 0.5% to HK $87.75 ahead of the e-commerce platform operator's quarterly results later in the day after the close of trading.
Longfor Group increased 1.1% to HK $11.48, China Vanke declined 1.4% to HK $6.49, and China Land Resource Land declined 1.3% to HK $23.75.
Jiangsu Guofu Hydrogen Energy Equipment soared 20% to HK$78.0 on its first day of trading in Hong Kong after the company raised HK$390 million through the sale of 6 million shares.
- Arun Goswami
- 15 Nov, 2024
- Mumbai
Stock market indexes in India continued to struggle amid weak corporate results, sustained foreign fund outflow, and the worries of a resurgent inflation.
The Sensex index closed down 0.2%, and the Nifty index declined 0.1% as investors reviewed the latest batch of mixed earnings and prepared for a three-day weekend.
At Thursday's close, the Sensex index declined 0.2% to 77,580.31, and the Nifty index dropped 0.1% to 77,580.31.
For the week, both benchmark indexes decreased 2.4% and extended losses for the second week in a row as foreign investors pulled $12 billion in September, outweighing the $4 billion inflows from retail domestic investors.
NBCC India Ltd declined 0.3% to ₹89.90 despite the construction company reporting a rise in its profit in the fiscal second quarter.
Consolidated net income in the September quarter increased 53% to ₹125.1 crore from ₹81.9 crore a year ago.
National Aluminium Company closed at ₹219.70, and the company reported a surge in net income in the September quarter.
Consolidated net income surged more than five-fold to ₹1,045.9 crore from ₹187.4 crore a year ago, and the company's board approved an interim dividend of ₹4 per share.
Vodafone Idea decreased 0.4% to ₹7.35 after the embattled mobile phone services provider reported another quarter of losses.
Consolidated loss in the fiscal second quarter ending in September shrank to ₹7,175.9 crore from ₹8,737 crore a year ago but rose from ₹6,432 crore in the June quarter.
Eicher Motors increased 6.5% to ₹4,890.95 after the vehicle maker reported record quarterly revenue in the September quarter.
Revenue increased to 4,263 crore from 4,115 crore, and net income advanced 8.3% to 1,100 crore from 1,016 crore a year ago.
Thomas Cook India Ltd increased 2.5% to ₹196.50 after the travel services provider reported a rise in the September quarter profit.
Consolidated revenue in the quarter increased 8.7% to 2,003.8 crore, and net income soared 37.8% to 64.9 crore from a year ago, respectively.
Apollo Tyres jumped 4.2% to ₹476.20 after the company reported better-than-expected results in the September quarter.
Consolidated operating revenue increased to ₹6,437 crore from ₹6,280 crore, but net income declined 37% to ₹297 crore from ₹474 crore a year ago, respectively.
- Arun Goswami
- 15 Nov, 2024
- Mumbai
Stock market indexes in India continued to struggle amid weak corporate results, sustained foreign fund outflow, and the worries of a resurgent inflation.
The Sensex index closed down 0.2%, and the Nifty index declined 0.1% as investors reviewed the latest batch of mixed earnings and prepared for a three-day weekend.
At Thursday's close, the Sensex index declined 0.2% to 77,580.31, and the Nifty index dropped 0.1% to 77,580.31.
For the week, both benchmark indexes decreased 2.4% and extended losses for the second week in a row as foreign investors pulled $12 billion in September, outweighing the $4 billion inflows from retail domestic investors.
NBCC India Ltd declined 0.3% to ₹89.90 despite the construction company reporting a rise in its profit in the fiscal second quarter.
Consolidated net income in the September quarter increased 53% to ₹125.1 crore from ₹81.9 crore a year ago.
National Aluminium Company closed at ₹219.70, and the company reported a surge in net income in the September quarter.
Consolidated net income surged more than five-fold to ₹1,045.9 crore from ₹187.4 crore a year ago, and the company's board approved an interim dividend of ₹4 per share.
Vodafone Idea decreased 0.4% to ₹7.35 after the embattled mobile phone services provider reported another quarter of losses.
Consolidated loss in the fiscal second quarter ending in September shrank to ₹7,175.9 crore from ₹8,737 crore a year ago but rose from ₹6,432 crore in the June quarter.
Eicher Motors increased 6.5% to ₹4,890.95 after the vehicle maker reported record quarterly revenue in the September quarter.
Revenue increased to 4,263 crore from 4,115 crore, and net income advanced 8.3% to 1,100 crore from 1,016 crore a year ago.
Thomas Cook India Ltd increased 2.5% to ₹196.50 after the travel services provider reported a rise in the September quarter profit.
Consolidated revenue in the quarter increased 8.7% to 2,003.8 crore, and net income soared 37.8% to 64.9 crore from a year ago, respectively.
Apollo Tyres jumped 4.2% to ₹476.20 after the company reported better-than-expected results in the September quarter.
Consolidated operating revenue increased to ₹6,437 crore from ₹6,280 crore, but net income declined 37% to ₹297 crore from ₹474 crore a year ago, respectively.
- Barry Adams
- 14 Nov, 2024
- New York City
Wall Street indexes rested following a post-election rally that lifted major averages to new record highs.
The S&P 500 index decreased 0.2% and the Nasdaq Composite declined 0.1% as investors reviewed the latest updates on weekly jobless data and producer price inflation.
On an annual basis, producer price inflation accelerated to 2.4% in October from 1.9% in September, the U.S. Bureau of Labor Statistics reported Thursday.
The annual core rate of producer price inflation accelerated to 3.1% from 2.9%, confirming elevated inflation pressures and supporting the case for policymakers to keep interest rate policy restrictive.
Initial jobless claims at the end of the week ending on November 9 declined by 4,000 from the previous week to 217,000, the U.S. Department of Labor reported Thursday.
The four-week moving average, which reduces weekly volatility, fell by 6,250 to 221,000.
Continuing claims, which lag by one week, fell by 19,000 to 1.873 million.
In international trading, financial markets in Europe, Japan, China, and India extended volatility for the second week in a row amid growing worries about the U.S. trade policy and nature and level of tariffs under the expected chaotic administration of president-elect Donald Trump.
President-elect Donald Trump has promised to wipe out the federal government deficit in eight years of his office, vowed to deport 10 million illegal immigrants in the first year of his administration, settle the war in Ukraine in one day, and he should be consulted by the Fed Chair before rate decisions.
Don't hold your breath; none of these action items are likely to happen, even in the next four years.
U.S. Indexes and Treasury Yields
The S&P 500 index increased 2.0% to 5,901.45, the Nasdaq Composite rose 2.1% to 18,832.39, and the Russell 2000 index rose 1.9% to 2,260.84.
The yield on 2-year Treasury notes edged higher to 4.28%, 10-year Treasury notes inched higher to 4.45%, and 30-year Treasury bonds increased to 4.61%.
WTI crude oil increased $0.27 to $69.28 a barrel, and natural gas prices edged down 2 cents to $2.95 a thermal unit.
Gold decreased by $15.14 to $2,556.49 an ounce, and silver declined by $0.15 to $30.13.
The dollar index, which weighs the US currency against a basket of foreign currencies, edged lower to 106.72.
U.S. Stock Movers
Walt Disney Company soared 10% to $113.16 after the theme park operator reported better-than-expected quarterly results.
Cisco Systems decreased 1.3% to $58.48 after the networking gear maker reported better-than-expected quarterly results and lifted its annual outlook, but revenue declined for the fourth quarter in a row.
Capri Holdings declined 2.2% to $19.24 and Tapestry Inc. jumped 11.4% to $57.13 after the two companies called off their merger plans citing regulatory hurdles.