The S&P 500 was 0.1 per cent lower in afternoon trading, a day after leaping to set an all-time high for the 25th time this year. The Dow Jones was up 22 points, or 0.1 per cent and the Nasdaq composite was down 0.1 per cent a day after hitting its own record.The Australian sharemarket is set to edge up, with futures at 4.57am AEST, pointing to a gain of 15 points, or 0.2 per cent, at the open. The ASXThe European Central Bank became the latest in the world to cut its own interest rates.
Another factor that’s helped US consumer spending stay so strong has been a remarkably solid job market. But a report on Thursday showed some potential softening there as well.More US workers applied for unemployment benefits last week than the week before, when economists were expecting to see a slight decline. The numbers are still low compared with history, but they could suggest some slowing in the job market.
After the economic reports, Treasury yields were holding relatively steady. The yield on the 10-year Treasury rose to 4.29 per cent from 4.28 per cent late Wednesday. Nvidia reversed an early gain and slipped 2.1 per cent a day after becoming the third company to see its total value top $US3 trillion. The chip company has been riding a tidal wave of enthusiasm for artificial-intelligence technology.
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