Fundamentals haven’t justified the recent stock rally, one technical analyst notes
by Mark DeCambre and Andrea Riquier
U.S. stocks were lower midday Thursday as investors digested a fresh round of corporate results and economic data, including a report that showed another 2.44 million Americans filed for first-time jobless claims on an adjusted basis.
Market participants were also digesting a fresh spurt of hawkishness from the White House on China.
How are benchmarks faring?
The Dow Jones Industrial Average US:DJIA traded about 79 points, 0.3%, lower, near 24,497, while the S&P 500 index US:SPX was about 18 points, or 0.6%, lower at 2,953. The Nasdaq US:COMP fell about 67 points or 0.7% to trade near 9,308.