Brendan McDermid.
The Federal Reserve's meeting minutes signaled that the central bank will draw down more support for the economy than investors had anticipated this year, and the stock market fell.
Walgreens Boots Alliance shares rose after the drug store company's quarterly earnings surpassed expectations, as customers came in for vaccine and testing.
The Fed minutes suggested that policy makers may reduce their balance sheet rather than just pull back on emergency asset buying, which caused the tech-concentrated Nasdaq to open higher. The yield on the 10-year Treasury reached 1.75% on Thursday for the first time in over a year.
The US indexes stood at 9:30 a.m. on Thursday.
Before the bell, weekly jobless claims showed a rise of 7,000 claims to 207,000. It was worse than expected.
The labor market is extremely tight and firms won't let staff go unless they have no other choice, said Pantheon Macroeconomics in a note. It's possible that an extended Omicron wave would change that, but the initial impact likely is to make firms even more keen to keep people.
Mark Mobius says the tech sell-off is a good time to buy FAANG stocks.
The growth of the markets of cryptocurrencies in 2021 resulted in an 80% increase in crimes.
Oil prices went up. The price of West Texas Intermediate crude increased by 1.9%. The international benchmark gained 1.7% to trade at $82.15.
The price of gold dropped to $1,790.30 per ounce. The yield on the 10-year bonds was up.
It lost 1.5% to $43,014.11.
Business Insider has an original article.
