S&P 500 Pressured by Concerning Jobless Claims Data

The S&P 500 (SPX) is set to open Thursday in the red following the release of new labor data from the Bureau of Labor Statistics (BLS).

For the week ended January 31, initial jobless claims rose by 22,000 to 231,000, above the consensus estimate of 212,000. Continuing jobless claims, which trail initial claims by a week, increased by 25,000 to 1.844 million, below the expectation of 1.85 million.

*This is a developing story. Stay tuned for additional updates.*