Russell 2000 continues in the red
The Russell 2000 (NYSE:IWM) is in negative territory as investors react to news of a jump in weekly jobless claims.
At 12:19 p.m. ET, the small-cap index had let go 1.65 points, or 0.23%, to 710.62. The Dow Jones Industrial Average was off 7.32 points, or 0.06%, to 12,598.51.
The bears have been running the show since the start of trading on news before the opening that jobless claims for the week ended March 29 increased 38,000 to 407,000, according to the U.S. Labor Department. Economists were expecting a smaller increase from the preceding week’s upwardly revised figure of 369,000.
Small-cap stocks stumbled but recovered and almost broke into positive territory at about 10 a.m. ET on news that the U.S. service sector contracted less than expected in March.
At 12:19 p.m. ET, the small-cap index had let go 1.65 points, or 0.23%, to 710.62. The Dow Jones Industrial Average was off 7.32 points, or 0.06%, to 12,598.51.
The bears have been running the show since the start of trading on news before the opening that jobless claims for the week ended March 29 increased 38,000 to 407,000, according to the U.S. Labor Department. Economists were expecting a smaller increase from the preceding week’s upwardly revised figure of 369,000.
Small-cap stocks stumbled but recovered and almost broke into positive territory at about 10 a.m. ET on news that the U.S. service sector contracted less than expected in March.
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