U.S. stock market today: The last week jobless claims were worse than expected. The euro zone companies and consumers are more pessimistic about the economic outlook. The EU summit was held as scheduled, the market expectations for the EU summit to put forward specific plans to address the European debt crisis are low. The U.S. stock market today opened lower and played down, but in the late session, the three major indexes moved high, recovering most of the declines.
The Dow Jones Industrial Average slipped 25.58 points, or 0.20%, to close at 12,601.43 points; the Nasdaq composite index fell 25.83 points, or 0.90%, to end at 2,849.49 points and the Standard & Poor’s 500 index descended 2.94%, or 0.22%, to close at 1,328.91 points
The U.S. Department of Labor announced that as of the week ended June 23,the initial jobless claims were 386,000. According to the survey by Bloomberg, economists on average had expected this figure would be 385,000. The previous week’s initial jobless claims were 387,000.
The U.S. Commerce Department announced that the 2012 first quarter GDP annualized growth rate was 1.9% (final value), compared to the previous quarter. According to the survey by Bloomberg, economists on average had expected this figure would be 1.9%. The amendment to the first quarter GDP growth rate is 1.9%. On the basis of the U.S. statistics rule, GDP growth will be published in the third editions: initial value, adjustment and final value.
The U.S. stocks were mixed today and tech sector led the declines.