American equity markets unable to rebound Thursday

The US Stock market experienced a definitely negative opening Thursday, as the drama and fears of yesterdays collapse carried over into today, compounded by the release of uneven economic data out of the United States. In the United States, the Consumer Price Index (YoY) grew +1.6% in the month of January, in like with consensus expectations. Moreover, the Consumer Price Index (MoM) was unchanged in January, missing estimates calling for +0.1%. The Consumer Price Index ex Food and Energy (MoM and YoY) was reported at +0.3% in January (vs. 0.2% expected) and +1.9% in January (against projections of +1.8%) respectively. Finally, Initial Jobless Claims (February 17) yielded a figure of 362K, against 355K expected.

Beginning with the indices and composites, the NASDAQ fell -0.57% as it settles in region of 3147.90, down -17.95 points in these moments. In addition, the S&P 500 is trading in negative territory, operating at 1503.70, descending -8.08 points or -0.53% at the time of writing. Finally, the Dow Jones has moved lower at the opening as well, trading in the zone of 13869.18, presently -0.42% after a movement of -58.36 points.

Sectors are nearly all in the red currently, however the Basic Materials and Consumer Cyclical sectors have distinguished themselves as main losers thus far, plummeting -1.02% and -0.99% respectively. In other news, the price of crude has settled below USD $93.06 Thursday.