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Wall Street aims higher as jobless claims, trade deficit fall

05 October 2017 14:51

Traders in the US were eyeing yet another record breaking session judging by the early trades taking place in New York.

Upbeat economic data appeared to be the main catalyst, with jobless claims falling and the trade deficit shrinking, while resurgent commodity prices also offered support.

Shortly after the open, the Dow was up by 0.07% at 22,677.68, the S&P 500 was 0.19% higher at 2,542.53 and the Nasdaq had added 0.36% at 6,558.1.

European markets were mixed, once again, during the afternoon session. The FTSE 100 was up 0.37%, the DAX was down 0.14% and the CAC 40 was up by 0.05%.


At around 2.45pm (GMT) WTI crude oil was 0.42% higher at $50.19 per barrel and Brent crude was up 0.88% at $56.29 per barrel.

Gold was 0.04% higher at $1,277.3 an ounce, silver was up 0.58% and copper was 2.45% to the good.


The US trade deficit fell to $42.4bn in August, down $1.2bn from a revised $43.6bn in July, the US Census Bureau and the US Bureau of Economic Analysis said today.

US initial claims in the week ending September 30 were 260k, a decrease of 12k from the previous week's unrevised level, the US Department of Labor said today.

Global outplacement consultancy Challenger, Gray & Christmas reported that US employers announced workforce reductions totalling 32,346 in September, down 4.4% from August when planned layoffs totalled 33,825.

In addition, monthly factory orders data is due later this afternoon.

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