Thursday's trading: 5 Things to know
Traders will examine the latest jobless figures and interest rate news from the ECB
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Here are the key events taking place on Thursday that could impact trading.
INTEL: Watch shares of Intel after the chipmaker said it was freezing hiring in the unit responsible for PC desktop and laptop chips, as part of a series of cost-cutting measures. Other cost-cutting measures include canceling some travel for the group immediately, cutting back on industry conferences and instructions to hold group meetings virtually when possible. The memo said that some hiring could resume in as little as two weeks.
Intel logo and semiconductors (istock / iStock)
ECONOMIC DATA: The Labor Department is out with its count of new claims for unemployment benefits for last week. Expectations are for 210,000, up 10,000 from the previous week. Continuing claims, which track the total number of workers collecting unemployment benefits, are anticipated to edge down to 1.305 million.
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EARNINGS WATCH: Quarterly results are due from Hooker Furniture and Signet Jewelers before the market open and Rent the Runway, Stich Fix and Vail Resorts after the bell.
In this photo illustration the logo of Meta is pictured on a smartphone display. (Photo Illustration by Florian Gaertner/Getty Images / Getty Images)
TICKER CHANGE: Meta Platforms, formerly Facebook, will begin trading under a new ticker symbol, ‘META’, before the market open.
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ECB: The European Central Bank meets on Thursday and is expected to confirm its first rate rise will come in July. Its focus is now turning towards finding the neutral rate: high enough to tame inflation, but not so high it kills growth.