Stocks were little changed on Thursday, all three major indexes were mixed while the bond market also budged little.
We’ve got all the headlines, but first, the scoreboard:
- Dow: 19,890.94, -10.22, (-0.05%)
- S&P 500: 2,279.55, +1.28, (+0.06%)
- Nasdaq: 5,642.65, -6.45, (-0.11%)
- UST 10-year bond yield: 2.477%, (+2.6 bps)
- Trump continued his tough talk on NAFTA. Trump said that the North American Free Trade Agreement has been a “catastrophe” for the US and he wants to either have it changes or completely ripped up. He also emphasised that he wants trade to be fair, saying he wants NAFTA “with an extra F” for Fair.
- The Bank of England held their key interest rate in place. The interest was held at 0.25% on Thursday, though the central bank did increase its projection for economic growth in 2017. “Over the next few years, a consequence of weaker sterling is that the higher imported costs resulting from it will boost consumer prices and cause inflation to overshoot the 2% target. This effect is already becoming evident in the data,” said the BOE’s statement.
- Amazon is set to report earnings after the bell. Analysts are expecting earnings per share of $1.35 and revenue of $44.68 billion.
- Ralph Lauren’s CEO resigned suddenly and the stock tanked. CEO Stefan Larsson stepped down after butting heads with founder Ralph Lauren. The company also reported a 12% drop in sales during the holiday season. The stock fell by just over 12% during trading.
- Initial jobless claims stayed under 300,000 for the 100th week in a row. Claims came in at 246,000, below the 250,000 expected by economists and down from the previous week’s 259,000.