Markets were lower in intraday trading on Thursday, June 16.
The number of Americans filing for unemployment insurance since the coronavirus pandemic in March neared 50 million as first-time jobless claims continued to rise, weekly government figures released Thursday showed.
Jobless claims for the past week tallied 1.3 million, which came in higher than the expectations of 1.25 million.
And retail sales rose 7.5% in June, the second straight month of sharp gains, but economists have expressed concerns that next month could be weaker as a surge in coronavirus cases has many states and businesses again locking down.
In China, the world's second-largest economy, growth returned in the second quarter but signs of weakness remained, particularly in retail sales.
And Twitter was under pressure following the hacking of accounts such as Amazon CEO Jeff Bezos, Tesla CEO Elon Musk and other high-profile individuals such as Barack Obama, Joe Biden and Warren Buffett were by a person or group seeking cryptocurrency.
In earnings news, Bank of America’s second-quarter profit beat analysts' forecasts but fell sharply from a year earlier, and the bank warned it was bracing for substantial loan losses amid the ongoing coronavirus pandemic that has upended the banking and lending sector.
Morgan Stanley posted second-quarter earnings ahead of Wall Street forecasts as trading revenue surged and bad loan provisions fell from the first three months of the year.
And Johnson & Johnson posted stronger-than-expected second- quarter earnings and boosted its full-year profit guidance while confirming its goal of advancing the development of a coronavirus vaccine.
So, what’s Jim Cramer watching?
Watch the video above for more.