U.S. Stocks Eye Oil and Dollar; Credit Suisse Shares Crash

U.S. stocks fell at the open on Thursday, after a rally the day before – this as oil prices remained volatile and weekly jobless claims rose more than expected. Oil prices rose slightly higher, above $32 a barrel, following a 7 percent gain on Wednesday as the dollar lost steam. Investors expect the Federal Reserve to pull away from its hawkish rate hike forecast for 2016, which pressured the greenback. Meanwhile, jobless claims rose by 8,000 for the week ending Jan. 30 to 285,000, slightly more than economists expected. The closely watched January jobs report is set to be released on Friday. Also, Credit Suisse (CS) posted its largest quarterly loss since 2008 and the stock fell to a 25 year low. The bank took a charge from an acquisition of an investment bank back in 2000. The company will also reduce costs, which will include 4,000 jobs cuts. TheStreet’s Scott Gamm reports from Wall Street.