Wall Street slips as tech slide resumes, U.S. jobless claims rise

Wall Street’s main stock indexes fell on Thursday as investors continued to shift out of big tech shares, while a rise in U.S. weekly jobless claims drew concern.

stock chartDevik Jain and Shreyashi Sanyal for Reuters:

Shares of Apple Inc, Microsoft Corp, Tesla Inc and Alphabet Inc were down between 1.1% and 2.5%, pressuring both the S&P 500 and the Nasdaq. Facebook Inc shares slipped 2.4% as Wall Street assessed the wider ramifications of its move to block all news content in Australia.

MacDailyNews Note: See Facebook blocks Australian users from viewing or sharing news via The Beeb.

Concerns over a potential rise in inflation have pushed investors to book profit on stocks with high valuation in the S&P 500 technology and communications services sectors, which have underpinned a 76% rise in the benchmark index since its March 2020 lows.

The Labor Department’s report showed initial claims for state unemployment benefits were 861,000 last week, compared with 848,000 in the prior week, partly due to potential claims related to the temporary closure of automobile plants due to a global semiconductor chip shortage…

Declining issues outnumbered advancers for a 3.21-to-1 ratio on the NYSE and for a 3.29-to-1 ratio on the Nasdaq.

MacDailyNews Take: By the way, delete Facebook. It’s garbage run by garbage people who repeatedly do garbage things.

39 Comments

          1. Illegitimate and supremely dumb post. Who’re you kidding by this point? There’s only so long you can stick to the STOP THE STEAL nonsense that was made for gullible morons. Living your life around conspiracy theories is a poor life indeed.

            1. Gavin Newsome is now demanding “signature matching” in the recall effort that is now in process with more than 1.5 million petition signatures. Gavin Newsome in the all Democrat state that runs elections where ZERO voter ID is permitted and where ZERO signature matching was done in the last election. DEMOCRATS CHEAT. So well that idiots like FESAURIUS think it is now their birthright.

            2. Kent and Goeb are the two primary remaining fact-free trumpistas on these forums. They issue insults, copy/paste partisan propaganda, empty rhetoric, non sequitur, ad hominem, and “nuff said” instead of verifiable facts.

              So you see, facts + insults from left-leaning Mac fans completely blows away the lies + insults from the increasingly shrill whiners of the always victimized right wing.

              I won’t claim that the left is always correct, but given that the Trumpistas worship a corrupt morally bankrupt compulsive liar, who can easily be proven to have pushed lies daily his entire life, then let’s be intellectually honest with our math here.

            3. @Egalitarian,

              Visualize a group of dedicated progressives purposefully coming to the aid of a group of Trump supporters who had some calamity befall them. I guarantee the right wingers will be left speechless. That stunned humility, the cognitive dissonance in the faces of the diehard republicans… that’s what I want to see happen.

              If we’re all screaming at each other and calling names, nobody is listening. If we help each other, it will lead to people actually understanding and integrating our distinct points of view into their mindset.

      1. You only voted for Biden because he said on tv that President Obama was the FIRST Mainstream African American who was articulate, bright and CLEAN -And because he raged at Black reporter Errol Barnett “ARE YOU A JUNKIE?” because you knew, if given a million years, Joe’d NEVER say, nor ask those things of WHITE men.
        When you found out that he lied to Black groups for decades that he was arrested in South Africa while visiting Nelson Mandela, and lied to them he’d marched with Civil Rights Leaders, that was the Vanilla Frosting on your cake.
        And upon learning Biden, as a Senator, voted to keep Blacks segregated? Your eyes rolled back to their WHITES when he said “I don’t want my kids to grow up in a jungle. A RACIAL Jungle”.
        Well done you.

        1. All of the things mentioned above are easily verifiable and the consistency and ease in which they were spoken denote they are long-held beliefs. He seems oblivious the words are degrading and simply racist.

          Much more atrocious and tragic is the same man–the President of the United States–framing the genocide China is imposing on the Uyghurs as a matter of “different cultural norms.”

          I’m aghast and a short time ago, I would be in utter disbelief. We have a leader that deems another govt killing, torturing and psychologically “modifying” a people as “their business.” No concern, no warning, no threat of consequence….essentially just, “carry on.”

          It’s not at all hyperbolic to turn back time 8-9 decades and think it possible the German’s genocide would have incurred no push-back from our President–if Biden was at the helm. This isn’t simply racism, this is complicity in a 21st century genocide.

          Crickets.

    1. We heard from Democrats, liberals and the media for four years Trump inherited a growing economy. While technically correct, what they did not tell you it was the most anemic recovery after a recession in history and GDP numbers were in the tank.

      That said, President Trump turned around the economy in record time setting several government records never seen before.

      Then Covid hit and Democrat Governors and large blue city Democrat mayors shut down their economies putting millions out of work and tanking the economy.

      Even so, the stock market surged when President Trump was leaving office and employment numbers improving.

      So, now it’s accurate to say Biden inherited a GROWING ECONOMY from President Trump despite Covid complications.

      After 50 partisan and nearly useless executive orders, Biden has put thousands of energy workers out of work. Unemployment is climbing, gas prices are skyrocketing, green energy in Texas is seriously flawed, illegals and criminals will soon be storming the borders without Covid testing and released into the general population with a piece of paper they need to show up in court. We all know how that turns out.

      Dow is pausing and now Biden OWNS IT ALL. Welcome to the four year decline of quality of life in the USA. Billions wasted on the Green Dream France Accord and no accountability for the World Heath Orginization in bed with Communist China and the same for the world’s largest polluter not following accord rules.

      What a joke. It seems Democrats now more than ever are virtue signaling and the sycophants in the press carry their water and OBJECTIVE REPORTING is DEAD!

      Thank you voters for a change that could not be WORSE.

      Bring on the partisan FAKE down votes. STRENGTHENS my resolve…

      1. Mr. GeoB, pursuing “Equity for All,” instead of “Equality for All,” like President Harris advocates, is sure give us a foot-up in the market (let’s not be negative about current news). The citizenry will be motivated to pursue excellence in all things.

        There are plenty examples in history to confirm and observe.

        1. Wow and wow…look at the confirmation (votes) on the above post written with serious implications, but with sarcasm. People really deem equity better than equality as a starting basis for cultural health?!

          Hello Mr. Marx, welcome to our home. Freedom is so last generation.

        1. You once posted you have not seen or acknowledged one positive achievement or government record under President Trump. Your dishonest partisan BLINDLESS Is well know. F*uk off you lying POS!…

      1. I’ll tell you what hurts: it hurts to see people be cruel toward each other. This crap’s gotta stop.

        If we stop hating each other, we win. The media and politicians won’t have anyone left to cajole into mindless prejudice.

        1. Well said, yes since Biden was elected applecynic has turned to snidely mocking and insulting posts while enjoying the experience.

          Guess that’s to be expected from full of themselves liberals at this point in time.

          As the legendary Botty would post numerous times, MEH. What goes around WILL come around…

          1. GoeB,
            Doesn’t the number of one star votes, like every time you post, tell you anything at all? I will use small words here to help you – no one likes you or what you say. Haters love to hate….but please do it elsewhere….

        2. You’re right. But the enemy to democracy and the Republic just vacated the Oval Office, and his minions are still spreading the discord. If inky singing kumbaya would work…

          1. Somebody has to take the first step toward peace. Otherwise, we just elevate the hate until eventually one side elects a modern-day Hitler and the losing side is genocided. The real enemy is the corrupt and evil politicians on both sides.

            The dirty secret is there’s not actually two sides. They just pretend there are two sides while they rip all of us off while baiting us to hate each other.

      2. That’s okay. Everyone who knows you voted for Biden because he said this- “By the way, what you all know, but most people don’t know, UNLIKE THE AFRICAN AMERICAN COMMUNITY, with notable exceptions, the Latino community is an incredibly diverse community with incredibly different attitudes about different things”.
        Now stop bragging about your WHITE prick.

      1. That’s nothing. You only voted for Biden because he said on tv that President Obama was the FIRST mainstream African American who was articulate, bright and CLEAN.
        ADD ONE MORE RACIST PIG to the party of the KKK

  1. Dear MDN Q-Anons:
    Please quit laying about the election and quit endorsing Donald’s lies. Thanks in advance of any likely rebuttals which would also be lies.

    1. Dear democRACISTS.
      Please stop voting for the man who said President Obama was the FIRST Mainstream African American who was articulate, bright and CLEAN.
      We understand, once you heard Biden rage at Black reporter Errol Barnett “ARE YOU A JUNKIE?”, you swooned because you knew Uncle Joemima would NEVER ask a WHITE man that question, but in the era of BLM, it’s unsightly to elect a man with a 50 year record of systemic racism in his blood.

Reader Feedback

This site uses Akismet to reduce spam. Learn how your comment data is processed.