{"id":609,"date":"2023-02-10T11:03:52","date_gmt":"2023-02-10T16:03:52","guid":{"rendered":"https:\/\/embarrdowns.com\/us-stock-market-retreats-as-oil-prices-rise-and-unemployment-claims-rise\/"},"modified":"2023-02-10T11:03:53","modified_gmt":"2023-02-10T16:03:53","slug":"us-stock-market-retreats-as-oil-prices-rise-and-unemployment-claims-rise","status":"publish","type":"post","link":"https:\/\/embarrdowns.com\/us-stock-market-retreats-as-oil-prices-rise-and-unemployment-claims-rise\/","title":{"rendered":"US Stock Market Retreats as Oil Prices Rise and Unemployment Claims Rise"},"content":{"rendered":"

On Wednesday, stocks in the U.S. experienced a decline, going against the trend of the previous session’s rally, as investors paid attention to comments made by Federal Reserve Chair Jerome Powell to anticipate the direction of interest rates.[0]<\/a><\/sup> The Dow Jones Industrial Average fell 0.7%, and the S&P 500 declined 0.9%.[1]<\/a><\/sup> The Nasdaq composite dropped by 1%.[2]<\/a><\/sup><\/p>\n

At 10 a.m., the University of Michigan’s preliminary consumer sentiment survey concerning the economy will be released.[3]<\/a><\/sup> Econoday’s estimates suggest that consumer sentiment may inch upwards to 65.0 from its level of 64.9 in January.[4]<\/a><\/sup><\/p>\n

On Friday morning, oil prices increased again after Russia declared a decrease of 500,000 barrels of oil per day in March due to price ceilings imposed by the United States and the European Union.[4]<\/a><\/sup> West Texas Intermediate futures surged by more than 1%, reaching nearly $79 a barrel – a rise of 7% for the week, and the biggest weekly increase since the beginning of October.[4]<\/a><\/sup><\/p>\n

An increase of 13,000 was seen in the United States’ weekly initial unemployment claims, bringing the total to 196,000. This figure is higher than the anticipated 190,000 and points to a weakening labor market.[5]<\/a><\/sup>The number of weekly continuing claims increased by 38,000 to 1.688 million, which is a greater amount than the expected 1.660 million, and thus indicates a weaker labor market.[5]<\/a><\/sup><\/p>\n

At the end, PepsiCo’s stock rose around 3% when they exceeded their profit expectations, declared a greater dividend, and presented a fresh stock repurchase plan.[6]<\/a><\/sup><\/p>\n

At 9:30 a.m., the US indexes were at the following[7]<\/a><\/sup> ET open on Friday: The Nasdaq 100 (NDX), S&P 500 (SPX), and Dow Jones Industrial Average (DJIA) all fell by 0.4%, 0.14%, and 0.03%, respectively.[8]<\/a><\/sup><\/p>\n

Christopher Waller, the Federal Reserve Governor, is scheduled to give a speech at 12:30 p.m.[3]<\/a><\/sup> At an Agribusiness conference in Arkansas earlier this week, he stated that the central bank\u2019s endeavors had been fruitful and that there was still more to do.[3]<\/a><\/sup><\/p>\n

In commodities, bonds, and crypto: U.S. crude oil prices rose 1.7% to $78.47 a barrel and the yield on the benchmark 10-year U.S. breached the 3.7% level on Friday and traded 0.019 points higher at 3.702%.[6]<\/a><\/sup><\/p>\n

0. <\/span>“Stocks Fall as Investors Keep Eye on Path of Interest Rates” The Wall Street Journal, 8 Feb. 2023, https:\/\/www.wsj.com\/articles\/global-stocks-markets-dow-update-02-08-2023-11675858404<\/a><\/a><\/p>\n

1. <\/span>“Stock Market Today: Stocks Slump On Interest Rate Worries” Kiplinger’s Personal Finance, 9 Feb. 2023, https:\/\/www.kiplinger.com\/investing\/stocks\/stock-market-today-stocks-slump-on-interest-rate-worries<\/a><\/a><\/p>\n

2. <\/span>“Dow Jones Rallies 250 Points After Jobless Claims; Tesla Stock Doubles From Lows” Investor’s Business Daily, 9 Feb. 2023, https:\/\/www.investors.com\/market-trend\/stock-market-today\/dow-jones-futures-rise-ahead-of-jobless-claims-disney-surges-on-earnings\/<\/a><\/a><\/p>\n

3. <\/span>“US Stocks Look Set To Steepen Losses For Week As Nasdaq, S&P Futures Plunge – Invesco QQQ Trust, Series 1” Benzinga, 10 Feb. 2023, https:\/\/www.benzinga.com\/news\/earnings\/23\/02\/30851938\/us-stocks-look-set-to-steepen-losses-for-week-as-nasdaq-s-p-futures-plunge-focus-on-inflation-data<\/a>–<\/a><\/p>\n

4. <\/span>“Stocks Fall Ahead Of Inflation Survey Data; Lyft Crashes On Earnings” Investor’s Business Daily, 10 Feb. 2023, https:\/\/www.investors.com\/market-trend\/stock-market-today\/dow-jones-futures-fall-ahead-of-inflation-survey-data-lyft-crashes-31-on-earnings-miss\/<\/a><\/a><\/p>\n

5. <\/span>“Stocks Push Higher on Strong Corporate Earnings and Lower Bond Yields” Barchart, 9 Feb. 2023, https:\/\/www.barchart.com\/story\/news\/14062870\/stocks-push-higher-on-strong-corporate-earnings-and-lower-bond-yields<\/a><\/a><\/p>\n

6. <\/span>“Dow futures rise 220 pts; Disney soars after strong results By Investing.com” Investing.com, 9 Feb. 2023, https:\/\/www.investing.com\/news\/stock-market-news\/dow-futures-rise-220-pts-disney-soars-after-strong-results-2999312<\/a><\/a><\/p>\n

7. <\/span>“US stocks sink further with S&P 500 on course for worst week since December” msnNOW, 10 Feb. 2023, https:\/\/www.msn.com\/en-us\/money\/markets\/us-stocks-sink-further-with-sandp-500-on-course-for-worst-week-since-december\/ar-AA17l0h3<\/a><\/a><\/p>\n

8. <\/span>“Stock Market News Today: Futures Remain in Red This Morning” TipRanks, 10 Feb. 2023, https:\/\/www.tipranks.com\/news\/stock-market-news-today-futures-see-red-this-morning<\/a><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

On Wednesday, stocks in the U.S. experienced a decline, going against the trend of the previous session’s rally, as investors paid attention to comments made by Federal Reserve Chair Jerome Powell to anticipate the direction of interest rates.[0]<\/a><\/sup> The Dow Jones Industrial Average fell 0.7%, and the S&P 500 declined 0.9%.[1]<\/a><\/sup> The Nasdaq composite dropped by 1%.[2]<\/a><\/sup><\/p>\n

At 10 a.m., the University of Michigan’s preliminary consumer sentiment survey concerning the economy will be released.[3]<\/a><\/sup> Econoday’s estimates suggest that consumer sentiment may inch upwards to 65.0 from its level of 64.9 in January.[4]<\/a><\/sup><\/p>\n

On Friday morning, oil prices increased again after Russia declared a decrease of 500,000 barrels of oil per day in March due to price ceilings imposed by the United States and the European Union.[4]<\/a><\/sup> West Texas Intermediate futures surged by more than 1%, reaching nearly $79 a barrel – a rise of 7% for the week, and the biggest weekly increase since the beginning of October.[4]<\/a><\/sup><\/p>\n

An increase of 13,000 was seen in the United States’ weekly initial unemployment claims, bringing the total to 196,000. This figure is higher than the anticipated 190,000 and points to a weakening labor market.[5]<\/a><\/sup>The number of weekly continuing claims increased by 38,000 to 1.688 million, which is a greater amount than the expected 1.660 million, and thus indicates a weaker labor market.[5]<\/a><\/sup><\/p>\n

At the end, PepsiCo’s stock rose around 3% when they exceeded their profit expectations, declared a greater dividend, and presented a fresh stock repurchase plan.[6]<\/a><\/sup><\/p>\n

At 9:30 a.m., the US indexes were at the following[7]<\/a><\/sup> ET open on Friday: The Nasdaq 100 (NDX), S&P 500 (SPX), and Dow Jones Industrial Average (DJIA) all fell by 0.4%, 0.14%, and 0.03%, respectively.[8]<\/a><\/sup><\/p>\n

Christopher Waller, the Federal Reserve Governor, is scheduled to give a speech at 12:30 p.m.[3]<\/a><\/sup> At an Agribusiness conference in Arkansas earlier this week, he stated that the central bank\u2019s endeavors had been fruitful and that there was still more to do.[3]<\/a><\/sup><\/p>\n

In commodities, bonds, and crypto: U.S. crude oil prices rose 1.7% to $78.47 a barrel and the yield on the benchmark 10-year U.S. breached the 3.7% level on Friday and traded 0.019 points higher at 3.702%.[6]<\/a><\/sup><\/p>\n

0. <\/span>“Stocks Fall as Investors Keep Eye on Path of Interest Rates” The Wall Street Journal, 8 Feb. 2023, https:\/\/www.wsj.com\/articles\/global-stocks-markets-dow-update-02-08-2023-11675858404<\/a><\/a><\/p>\n

1. <\/span>“Stock Market Today: Stocks Slump On Interest Rate Worries” Kiplinger’s Personal Finance, 9 Feb. 2023, https:\/\/www.kiplinger.com\/investing\/stocks\/stock-market-today-stocks-slump-on-interest-rate-worries<\/a><\/a><\/p>\n

2. <\/span>“Dow Jones Rallies 250 Points After Jobless Claims; Tesla Stock Doubles From Lows” Investor’s Business Daily, 9 Feb. 2023, https:\/\/www.investors.com\/market-trend\/stock-market-today\/dow-jones-futures-rise-ahead-of-jobless-claims-disney-surges-on-earnings\/<\/a><\/a><\/p>\n

3. <\/span>“US Stocks Look Set To Steepen Losses For Week As Nasdaq, S&P Futures Plunge – Invesco QQQ Trust, Series 1” Benzinga, 10 Feb. 2023, https:\/\/www.benzinga.com\/news\/earnings\/23\/02\/30851938\/us-stocks-look-set-to-steepen-losses-for-week-as-nasdaq-s-p-futures-plunge-focus-on-inflation-data<\/a>–<\/a><\/p>\n

4. <\/span>“Stocks Fall Ahead Of Inflation Survey Data; Lyft Crashes On Earnings” Investor’s Business Daily, 10 Feb. 2023, https:\/\/www.investors.com\/market-trend\/stock-market-today\/dow-jones-futures-fall-ahead-of-inflation-survey-data-lyft-crashes-31-on-earnings-miss\/<\/a><\/a><\/p>\n

5. <\/span>“Stocks Push Higher on Strong Corporate Earnings and Lower Bond Yields” Barchart, 9 Feb. 2023, https:\/\/www.barchart.com\/story\/news\/14062870\/stocks-push-higher-on-strong-corporate-earnings-and-lower-bond-yields<\/a><\/a><\/p>\n

6. <\/span>“Dow futures rise 220 pts; Disney soars after strong results By Investing.com” Investing.com, 9 Feb. 2023, https:\/\/www.investing.com\/news\/stock-market-news\/dow-futures-rise-220-pts-disney-soars-after-strong-results-2999312<\/a><\/a><\/p>\n

7. <\/span>“US stocks sink further with S&P 500 on course for worst week since December” msnNOW, 10 Feb. 2023, https:\/\/www.msn.com\/en-us\/money\/markets\/us-stocks-sink-further-with-sandp-500-on-course-for-worst-week-since-december\/ar-AA17l0h3<\/a><\/a><\/p>\n

8. <\/span>“Stock Market News Today: Futures Remain in Red This Morning” TipRanks, 10 Feb. 2023, https:\/\/www.tipranks.com\/news\/stock-market-news-today-futures-see-red-this-morning<\/a><\/a><\/p>\n","protected":false},"author":3,"featured_media":608,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"_links":{"self":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/609"}],"collection":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/comments?post=609"}],"version-history":[{"count":0,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/609\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media\/608"}],"wp:attachment":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media?parent=609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/categories?post=609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/tags?post=609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}