- Stocks were mixed Thursday as investors took in jobs data and new earnings reports.
- The Bank of England made its largest interest rate hike in 27 years, hiking by 50 basis points.
- European nations are set to pay 10 times the usual amount to fill gas stockpiles ahead of winter.
US stocks were mixed on Thursday as markets took in jobless claims data and fresh corporate earnings. The S&P 500 was coming off a strong session, as it ended higher Wednesday by roughly 1.5% with tech and growth stocks leading the way.
Investors assessed jobless claims data that showed claims ticking up to their highest level since November, at 260,000. Markets are also looking ahead to the July non-farm payrolls report slated to release on Friday at 8:30 a.m. ET, which will reveal the strength of the labor market and will be an important data point in the recession debate.
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Earnings on deck today include Virgin Galactic, AMC Entertainment, and Beyond Meat, which are all scheduled to report after the closing bell.
Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Thursday:
- S&P 500: 4,150.91, down 0.1%
- Dow Jones Industrial Average: 32,728.92, down 0.25% (83.58 points)
- Nasdaq Composite: 12,683.25, up 0.12%
Evercore strategist Julian Emanual warned that markets will see more volatility, as the bear market will bring a "dangerous month" ahead as the Fed remains hawkish.
Overseas, the Bank of England hiked interest rates by 50 basis points as it moves to stem soaring inflation. It marked the biggest hike in 27 years.
Meanwhile, European gas stockpiles are on track for target capacity ahead of winter, but nations are going to pay 10 times the usual amount amid Russia's energy cutoff. Commerzbank warned that Germany could plunge into a 2009-style recession if Russia were to cut off natural gas supplies.
European natural gas prices dipped Thursday, however, on reports of a coming US production boost.
Oil traded mixed, with West Texas Intermediate slightly up 0.26% to $90.92 a barrel. Brent crude, the international benchmark, dipped 0.21% to $96.56 a barrel.
Gold edged higher 1.10% to 1,796.50 per ounce. The 10-year yield dipped 4.9 basis points to 2.699%.
Bitcoin fell 2.24% to $22,952.07.