NEW YORK ( TheStreet) - U.S. stock indices slipped Thursday after a weekly jobless claim report was seen as sufficient enough to prompt the Federal Reserve to curb the bond-buying stimulus measures that have fueled the best year in equities since 1997.
The Fed's policy making committee is scheduled to begin a two-day gathering on Sept. 17 to discuss the possible reduction in the roughly $850 billion in bond buying that has helped the U.S. economy recover from the recession of 2008. The central bank is expected to announce its economic projections at the conclusion of the meeting on Sept. 18.
Weekly jobless claims for the week ended Sept. 7 fell by 31,000 to 292,000, the Labor Department reported in data released in Washington. Economists polled by Thomson Reuters were expecting claims to rise slightly to 330,000, up from the prior week's 323,000. The number may have been lower than expected, because two states failed to report for the week."I think that anybody who is rooting for taper-zero or taper light, I believe the Federal Reserve is going to do the full taper, which is consensus $20 billion
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV