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  • Wall Street stocks opened mostly lower Thursday after disappointing US employment data underlined worries about the US economic recovery. New claims for jobless benefits rose to 1.1 million last week, a weaker-than-expected result for a closely-watched benchmark in the wake of coronavirus shutdowns. The report came after Federal Reserve minutes released Wednesday emphasized the vulnerability of the US economy while the coronavirus pandemic rages on. About 25 minutes into trading, the Dow Jones Industrial Average was down 0.3 percent at 27,613.47. The broad-based S&P 500 dipped 0.2 percent to 3,369.32, while the tech-rich Nasdaq Composite Index added 0.2 percent at 11,170.44. Among individual companies, Estee Lauder fell 8.3 percent as it announced it would cut up to 2,000 jobs in the wake of the coronavirus crisis. The cosmetics giant reported a $462 million loss in the quarter ending June 30. Dow member Intel rose 1.9 percent as it announced it reached accelerated share repurchase agreements to buy back $10 billion of the company's stock. jmb
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  • Higher jobless claims weigh on Dow, S&P 500
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