US markets slip on weak jobless claims data

04 Apr 2014 Evaluate

The US markets closed lower on Thursday, after both the S&P 500 and the Dow Jones Industrial Average set intraday record highs earlier in the session. The Labor Department released jobless claims data for late March, which was worse than expected, raising concerns about what could be coming on Friday. Nonfarm payrolls and other US jobs figures for March, the most closely watched set of economic data on the planet, will likely set the tone on Wall Street and across financial markets on Friday. The number of Americans who applied for unemployment benefits in the last week of March rose to the highest level in a month, but initial claims continued to hover near the lowest level since the end of the last recession. New jobless claims jumped by 16,000 to a seasonally adjusted 326,000 in the week ended March 29. The average of new claims over the past month increased by 250 to 319,500, but it was just the fourth-lowest reading since the recession ended in June 2009. Separately, the US trade deficit climbed 7.7% to $42.3 billion in February to mark a five-month high, mainly because the nation exported less petroleum, commercial jets and industrial supplies. US exports fell 1.1% to $190.4 billion while imports edged up 0.4% to $232.7 billion.

On the other hand, growth picked up last month for the US service sector and other non-manufacturing companies. The Institute for Supply Management stated that its non-manufacturing index rose to 53.1% last month from 51.6% in February. The non-manufacturing employment gauge shot higher, rising 6.1 points to 53.6% in March. Meanwhile, the new-orders barometer rose 2.1 points to 53.4%. Among 18 industries tracked by ISM, 13 reported growth last month, while five contracted.

The Dow Jones Industrial Average lost 0.45 points, to 16,572.55, the Nasdaq Composite was down by 38.72 points or 0.91 percent, to 4,237.74, while the S&P 500 dropped 2.13 points or 0.11 percent, to close at 1,888.77.

The Indian ADRs closed in red on Thursday; ICICI Bank was down 1.60%, Dr. Reddy’s Lab was down 1.09%, HDFC Bank was down 0.85%, Infosys was down 0.50% and Tata Motors was down 0.46%.

Create stable, long-term investment portfolio with strong, consistent stocks.

Start Research-backed Investing ...Now. Subscribe to Sapphire

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Fiduciary-first advisory model.
As SEBI-registered IAs, we are legally and ethically bound to act in the best interests of our clients. We do not sell or distribute any financial products. This ensures our guidance is 100% unbiased and conflict-free.
Deep fundamental research + robust valuation discipline.
Built on more than 15 years of equity research, our framework combines quality assessment, intrinsic value estimation, and a sensible margin-of-safety approach.
Process—not predictions.
We don’t rely on guesswork or market timing. Instead, we focus on asset allocation, risk management, and long-term compounding.
Technology + Human Intelligence.
We believe a combination of both is essential for investing success. We constantly innovate and upgrade in-house tools, financial X-rays, and portfolio analytics so that our team of analysts and advisors are equipped with the best.
Partner with Clients.
We follow a DIWM (Do-It-With-Me) approach where we partner clients in setting goals, financial planning, educating on our investing process and share decision-enabling resources transparently with our clients who retain control on execution.

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

Investing in stocks, mutual funds, debt, and gold
Quality-at-Reasonable-Price way of investing in stocks
Constructing Direct Stock Portfolios with Core, Booster, and Amplifier stocks
A Mutual Fund Portfolio that delivers consistent out-performance and meaningful diversification (low overlap)
Periodic review and rebalancing
Clear Buy-Sell-Hold, and Position-sizing frameworks

Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
Logo:
Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
Brand Logo:
SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045
Compliance officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com Telephone: +919860359463 Address: Same as IA
Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com Telephone: +91 98609 19463 Address: Same as IA
Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com Telephone: +91 91758 99463 Address: Same as IA
Standard Warning:	Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Disclaimer:	Registration granted by SEBI, enlistment with exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.