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Wall Street slips as weekly jobless claims edge lower

Weekly jobless claims fall 2,000 to 250,000; Kohl's slashes 2022 forecasts

Traders work on the floor of the New York Stock Exchange. Photo: Reuters
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Traders work on the floor of the New York Stock Exchange. Photo: Reuters

Reuters
Wall Street's main indexes fell on Thursday after latest data suggested labor market conditions remain tight, while investors assessed minutes from the Federal Reserve's July meeting that indicated a less aggressive monetary policy tightening path.

Eight of the 11 major S&P 500 sectors declined in early trading, with consumer discretionary and communication services stocks leading losses.

Labor Department data showed the number of Americans filing new claims for unemployment benefits fell last week and data for the prior period was revised sharply down.

"Jobless claims fell again this week, showing the strength of the labor market," said Chris Zaccarelli, chief investment officer for

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First Published: Aug 18 2022 | 8:12 PM IST

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