US stocks open lower after economic data disappoints

The main US stock indices fell on Thursday, after the release of disappointing economic data, with focus on recent statements from the Davos World Economic Forum.

The US Labor Department showed today that the number of jobless claims in the US increased by 6K to 211K in the past week.

President Trump said yesterday on the sidelines of the World Economic Forum in Davos that the dollar strength is negatively affecting the US economy, and the Fed’s policies has obstructed the US stocks gains, due to interest rate hikes.

Trump also threatened the EU countries of a potential 25% tariffs on their cars exports to the US if they didn't agree on a fair trade deal.

As for stocks, Dow Jones was lower by 0.3% or 100 points to 29,085 at 15:11 GMT, Nasdaq lost 0.1% or 13 points to 9,371, and S&P 500 dipped 0.3% or 11 points to 3,310.