ADVFN US – Market Content Editor

The Labor Department released a report on Thursday showing an unexpected decrease in first-time claims for U.S. unemployment benefits in the week ended January 13th. The report said initial jobless claims fell to 187,000, a decrease of 16,000 from the previous week’s revised level of 203,000. Economists had expected jobless claims to inch up to…

The major U.S. index futures are currently pointing to a higher open on Thursday, with stocks likely to regain ground after moving mostly lower over the two previous sessions. Traders may look to pick up stocks at somewhat reduced levels following the pullback seen to start the week, which dragged the Dow down to its…

Base metals and gold rose slightly on a softer dollar, but weakening expectations of early interest-rate cuts this year continued to weigh on sentiment. “Concerns about resurging inflationary pressures due to geopolitical uncertainty in the Middle East, combined with a robust economy, suggest that the Fed may not need to rush into implementing monetary policy…

Oil prices inched higher following OPEC’s growth expectations for demand, and as Middle East tensions and a cold blast in the U.S. raised concerns over supply disruptions. “For now, the flat price remains firmly below $80/bbl and with the balance expected to be fairly comfortable over 1H24, significant upside is probably limited,” ING said.

The 10-year Treasury yield has scope to rise above the 55-day exponential moving average, which is currently at 4.163%, UOB Global Economics & Markets Research said. Price movements and technical signals suggest the yield could rise further, but upward momentum appears somewhat tentative, so it remains to be seen whether there’s sufficient momentum for the…

The dollar edged slightly lower after strong gains on Wednesday but continued to trade on a strong footing due to rising yields spurring general risk-off sentiment in markets, Danske Bank Research said. “The general risk-off sentiment in markets alongside rising yields is adding support to the dollar for the time being.” However, since the euro…

Stock futures inched higher on Thursday, as Treasury yields dipped and stress eased in Asian markets. “The recent very strong correlation between bonds and equities that started bearishly for both in August around the QRA [quarterly refunding announcement] and flipped bullish in October around the QRA, has flipped bearish again in 2024,” Deutsche Bank said.…