U.S. indices remained close to all-time highs on Thursday as data showed the number of Americans applying for state benefits had fallen.
Initial Jobless Claims data showed that applications fell by 26,000 to 900,000 for the week which ended January 16th.
Many had expected the figures released by the Labor Department to come in close to 910,000, after rising to 960,668 last week.
The benchmark S&P 500 remained close to yesterday’s record high as a result.
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ECB Keep rates unchanged, as Lagarde warns of virus risk
The ECB gave its first rate decision of the year, and as expected they opted to keep rates unchanged.
Despite this, the bank, led by Christine Lagarde continues to remain cautious on future growth as a result of the virus outbreak and hinting at the need for stimulus in supporting the European economy.
ECB’s President stated that, “In this environment ample monetary stimulus remains essential”. adding that, “Our policy measures, together with the measures adopted by national governments and other European institutions, remain essential to support bank lending conditions and access to financing, in particular for those most affected by the pandemic”.
Europe’s main index the DAX 30 was down 0.11% on Thursday.
Earnings Season: Intel, IBM set to release earnings
After Netflix blew analysts’ expectations out of the water on Wednesday, many are now looking forward to seeing who may be next.
This could come from Intel or IBM who are both set to release their Q4 earnings after the closing bell.
IBM is expected to report revenue close to $20.64 billion, with expectation for its EPS to come at $1.81. With Intel expected to report earnings of $1.10 per share on revenue of $17.48 billion.
Shares in both companies were up 1.31% and 2.57% respectively as of writing.
Quote of the day – “Accepting losses is the most important single investment device to ensure the safety of capital.”
Gerald M. Loeb
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