US main indexes opened lower on Thursday, with the S&P 500, NASDAQ Composite, and Dow Jones Industrial Average falling due to thin trading volumes following a holiday-shortened week. The markets resumed trading after being closed on Christmas Day.
Jobless claims in the US saw a one-month low dip, with initial applications for state unemployment benefits decreasing by 1,000 to 219,000. However, the number of individuals receiving continued benefits increased by 46,000, reaching a seasonally adjusted total of 1.910 million.
Major tech stocks were mostly down, except for Apple Inc, which gained 0.1%. The Fed’s decision to signal fewer-than-expected cuts in interest rates in 2025 led to sharp falls in the previous week and a decline on Wall Street. However, markets have scaled back rate cut expectations after PCE inflation data came in slightly softer than expected.
Analysts are now questioning whether Apple Inc (AAPL) is truly undervalued. Despite being one of the top stocks with massive upside potential, AAPL wasn’t ranked as such by InvestingPro’s advanced AI algorithms alongside thousands of other stocks.
Source: https://www.investing.com/news/stock-market-news/us-stock-futures-steady-after-christmas-holiday-3788646