Stocks appeared set to start lower following the previous day’s sharp drop. The major indices fell more than 2.5%. Markets in Asia finished a little lower today, while European markets were mixed at mid-day.
There are only two major economic reports today. Weekly jobless claims rose, slightly more than expected. The Labor Department said new claims for jobless benefits rose 2,000 to 484,000, with the four-week average now at 473,500. In a partial offset, continuing claims fell 64,000 to 4.519 million, but some of that could be the expiration of benefits. Separately, higher oil price pushed import price up for the first time in three months. Import prices rose 0.2% in July after falling 1.3% in June and 0.8% in May.
- Harrington Wealth Management
- Our firm provides comprehensive trust and investment management services by employing a customized asset allocation approach. By focusing on the individuality of each client, Harrington Wealth Management Company has helped high net worth individuals, families, and small institutions grow and sustain their wealth through proven investment practices since 1994. A fee-only advisor, we also offer other financial services from our offices in California, Kansas and Indiana that include custody, estates, land trusts, probate administration, guardianships, personal trust administration, retirement plan services, and investment consulting services.
