Yahoo Finance Jobless claims, Nvidia, Warner Bros. Discovery: 3 Things
Stock futures (^DJI, ^IXIC, ^GSPC) perk up Thursday morning after initial US jobless claims from the prior week came out below expectations, posting a figure of 233,000 against original forecasts for 240,000.
Nvidia (NVDA) is the center of attention for many investors as Wall Street eyes the chip sector with a "buy the dip" mentality following this week's volatility.
Warner Bros. Discovery (WBD) shares fall in Thursday's pre-market trading after the media company reported $9.1 billion in impairment charges in its latest earnings, writing down its linear TV networks.
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This post was written by Luke Carberry Mogan.
Video transcript
Finances, Jos JB and A B can now have more stock futures and treasury yields are higher.
After an initial jobless claims clocked in at 233,000, less than the 240,000 economists had expected and less than the previous week's revised levels.
The new data providing a counterpoint to signs of a weakening labor market.
This comes after July's jobs report came in much weaker than expected with the unemployment rate jumping to its highest level in nearly three years.
The jobs report partly responsible for a global sell off exacerbating fears that the US economy is slowing and invest.
Investors are keeping a watchful eye on the tech trade shares of video regaining some of its losses this morning after falling more than 5%.
On Wednesday.
The sell off in video and other chip names came despite a bullish note from Piper Sandler analyst published Wednesday pointing investors to a quote tremendous opportunity to buy some chip names following the sector's recent sell off and shares of Warner Brothers discovery are tumbling, the stock is down more than 10% after the streaming giant took a massive $9.1 billion impairment charge on its cable business in the second quarter.
The company also reversed earlier profit trends in its streaming business.
Despite adding nearly 4 million subscribers overall, the future remains unclear, especially after the company lost the key media rights deal with the NBA Wall Street is warning that the loss of those rights will impact the future success of its streaming service max and will likely quick in the demise of its linear networks which are already in free fall.
