( Reuters) – The S&P 500 and Dow Jones indexes dipped on Thursday as a grim U.S. out of work claims report took the shine off a strong month for stock markets globally, but encouraging quarterly incomes reports from Facebook and Tesla supported the Nasdaq.
SUBMIT IMAGE: The New York Stock Exchange (NYSE) is seen in the monetary district of lower Manhattan throughout the outbreak of the coronavirus illness (COVID-19) in New York City City, U.S., April 26,2020 REUTERS/Jeenah Moon
9 of the 11 significant S&P 500 sectors were trading lower, but decreases were led by the defensive real estate.SPLRCR, utilities.SPLRCU and consumer staples.SPLRCS indexes, recommending the mood was still risk-on.
Remarkable U.S. financial and financial stimulus and hopes of a revival in service activity as states reopen from lockdowns have powered a Wall Street rally in April, putting the benchmark S&P 500 SPX on course for its best month since1974
But experts have actually warned of another selloff as economic data highlights the level of the damage already done, with financiers also careful of the rate of the recovery from a looming recession.
On Thursday, the Labor Department’s report revealed initial unemployment claims totaled 3.84 million for the week ended April 25, a day after data verified the biggest contraction for the