U.S. stocks open lower amid mixed data, Fed statement
Xinhua, April 30, 2015 Adjust font size:
U.S. stocks opened mildly lower on Thursday, as investors digested mixed data after the Federal Reserve offered no signal of any rates hike in sight.
In the week ending April 25, the advance figure for seasonally adjusted initial claims was 262,000, a decrease of 34,000 from the previous week' s revised level, the U.S. Labor Department said Thursday. This is the lowest level for initial claims since April 15, 2000.
The strong job data came a day after the central bank downgraded its view of the U.S. labor market and economy in a two-day policy statement.
Officials focused mainly on the country's economic weakness in recent months, saying U.S. economic growth has "slowed" since last Fed meeting in March.
The Federal Open Market Committee on Wednesday offered no changes to its zero interest rate policy in sight, which lowered market expectations for an interest rate hike as soon as June.
U.S. real gross domestic product (GDP) increased at an annual rate of 0.2 percent in the first quarter this year, according to an advanced estimate released by the U.S. Commerce Department Wednesday.
The first quarter GDP showed a sharp slowdown from the fourth quarter' s 2.2 percent pace and below expectations of 1 percent growth.
Shortly after the opening bell, the Dow Jones Industrial Average ticked down 7.24 points, or 0.04 percent, to 18,028.29. The S&P 500 shed 2.31 points, or 0.11 percent, to 2,104.54. The Nasdaq Composite Index fell 10.55 points, or 0.21 percent, to 5,013.09. Endite