US stocks mixed after jobless claims jump

Written By Unknown on Kamis, 04 April 2013 | 22.34

US stocks have opened mixed after unemployment claims unexpectedly jumped, offsetting positive market reaction to new stimulus measures by the Bank of Japan.

Five minutes into trade on Thursday, the Dow Jones Industrial Average rose 18.86 points, or 0.13 per cent, to 14,569.21.

The broad-based S&P 500 inched 1.21 points, or 0.08 per cent, higher to 1,554.90.

The tech-rich Nasdaq Composite Index fell 4.94 points, or 0.15 per cent, to 3,213.66.

The mixed result came after Bank of Japan economic stimulus measures sent the Nikkei 225 index up 2.2 per cent.

But initial US jobless claims, an indicator of the pace of layoffs, totalled 385,000 in the week ending March 30, up 28,000 from the prior week's reading, the Labor Department reported.

The unexpected increase in claims came on the heels of a disappointing report on Wednesday on private-sector hiring.

The Department of Labor on Friday will release its closely watched monthly non-farm jobs and unemployment report.


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