Stocks Opened Lower after Weak Jobless Claims Report

U.S. stocks opened lower on Thursday after disappointing jobless claims report. The Dow Jones Industrial Average lately fell 217.87 points, or 0.81%, to 26,545.26. The S&P 500 declined 25.28 points, or 0.78%, to 3,211.64. The Nasdaq Composite dropped 105.70 points, or 0.99%, to 10,527.29.

Oil futures edged lower in choppy trade Thursday as investors weighed the demand outlook clouded by a pickup in COVID-19 cases. West Texas Intermediate crude for November delivery was down 10 cents, or 0.3%, at $38.83 a barrel. December Brent crude was down 11 cents, or 0.3%, at $42.15 a barrel.

The Labor Department’s weekly jobless claims report showed that another 870,000 workers filed new unemployment claims, reflecting that slightly more Americans applied for state unemployment benefits in the week ended Sept. 19 than in the prior week.