Stocks Opened Lower after Jobless Claims Data

U.S. stocks opened lower on Thursday after jobless claims data missed expectation. The Dow Jones Industrial Average lately retreated 200.12 points, or 0.63%, to 31,412.90. The S&P 500 slipped 26.65 points, or 0.68%, to 3,904.68. The Nasdaq Composite fell 144.33 points, or 1.03%, to 13,821.16.

Oil futures extended their rise Thursday as Texas faced a fourth day of blackouts due to a deep freeze that is estimated to have also shut in around 40% of U.S. crude output, while also closing a number of refineries. West Texas Intermediate crude for March delivery rose 37 cents, or 0.6%, to $61.51 a barrel. April Brent crude was up 40 cents, or 0.6%, at $64.74 a barrel.

Initial unemployment claims unexpectedly rose for back-to-back weeks, jumping above 800,000 yet again to a one-month high. Weekly new claims for the week ended February 13 totaled 861,000. This was significantly higher than the 773,000 expected.

U.S. import prices rose at the fastest rate since 2012 in January, as a jump in demand for imported goods pushed prices higher. Import prices increased by 1.4% in January over December, the Labor Department said Thursday, outpacing the rise of 1.0% expected, according to Bloomberg consensus data.

U.S. homebuilding slowed sharply at the beginning of 2021 after momentum from a historically strong 2020 began to wane. Housing starts slid by 6% month-over-month in January to reach a seasonally adjusted annualized rate of 1.58 million, the Commerce Department said. Thursday.

Walmart (WMT) posted a mixed fourth-quarter report. Revenue grew 7.3% to $152.08 billion, handily topping estimates for $148.38 billion. However, adjusted earnings were $1.39 per share, below estimates for $1.50.