Trending Market News Thursday: WeChat, Jobless Claims - TheStreet

Trending Market News Thursday: WeChat, Jobless Claims

Over 90% of respondents to a survey in China said they would abandon iPhones if President Trump's WeChat ban goes through.
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Strong jobless claims numbers weren't enough to prop up markets Thursday as the Dow and S&P 500 both fell 0.3% and 0.14%, respectively. 

Meanwhile, the Nasdaq continued its strong run, rising 0.4% Wednesday afternoon. 

U.S. Weekly Jobless Claims Continue Decline

U.S. weekly jobless claims totaled 963,000 last week, the first time claims fell below 1 million since March 21, below analyst expectations for 1.1 million claims. 

The 963,000 claims represent a 228,000 claim decline from the previous week. On March 14, there were just 282,000 claims, continuing a steady decline in claims. 

Those collecting benefits for at least two weeks totaled nearly 15.5 million, a decrease of 604,000 from a week ago. 

Chinese Would Abandon iPhones Sans WeChat

A new survey of Chinese consumers with more than 1.2 million responses revealed that 95% of Chinese iPhone owners would switch to a new phone if the president's ban on American company's doing business with WeChat moves forward.

The survey on Weibo, China's version of Twitter, showed where the country's loyalty lies. 

WeChat is more than a messaging service, it is basically an operating system, according to 9to5Mac, and one of the most important tech company's in mainland China. 

Manhattan Apartment Vacancies Hit 14-Year High

The number of empty listed Manhattan apartments that don't have buyers reached 13,117 as the number of new leases signed fell 23%, according to a report from industry watcher Douglas Elliman and Miller Samuel. 

The average rental price for a two-bedroom in the New York borough is $4,620, according to CNBC, and the exit of hundreds of thousands from the city at the start of the coronavirus pandemic has resulted in a tough summer for real estate in the city.