Dow falls ahead of jobless data; Nvidia seesaws on earnings
This digest was compiled by AI from multiple sources — links to the originals are below.
The Dow Jones Industrial Average fell on Thursday as investors awaited weekly jobless claims data. Nvidia shares swung between gains and losses after the company reported quarterly earnings that beat estimates but offered a cautious outlook.
Market Decline
The Dow Jones Industrial Average fell 0.3% to 39,500 points by midday Thursday. The S&P 500 slipped 0.2%, while the Nasdaq Composite edged up 0.1%. Investors focused on the upcoming release of initial jobless claims data, expected to show 220,000 new filings.
Nvidia Earnings Reaction
Nvidia shares seesawed after the chipmaker reported fiscal first-quarter revenue of $28.3 billion, above the $27.9 billion consensus estimate. However, the company's second-quarter revenue forecast of $30.0 billion fell short of some analysts' expectations of $30.5 billion. CEO Jensen Huang cited "mixed demand signals" in the data center segment.
India Economic Outlook 2030
A YouTube video predicts a potential economic depression in India by 2030, citing inflation and hidden unemployment. The analysis highlights structural challenges in the Indian economy.
Jobless Claims Fall to Pandemic Low
Initial jobless claims dropped by 26,000 to 360,000 for the week ending May 20, the Labor Department reported Thursday. This marks the lowest level of first-time filings since the onset of the pandemic.
Tech Stocks Fall Ahead of Payrolls
Technology stocks declined ahead of the US June payrolls report. The yen strengthened sharply against the dollar amid potential intervention by the Japanese government. Apple appealed to the Trump administration to buy Chinese-made memory chips.
What's Next
The Labor Department will release jobless claims data at 8:30 a.m. ET Friday. It remains unclear whether the data will shift expectations for the Federal Reserve's next rate decision.
4 sources
Dow falls ahead of jobless data; Nvidia seesaws on earnings
