Wall Street Edges Down Amid Rising Jobless Claims

Wall Street is set to open lower as jobless claims rise modestly, sparking labor market concerns. The volatility index rose amid external tensions and cautious market sentiment before key data releases. Investors eye potential rate cuts and industry reactions, while workers' strikes and corporate news cast an economic shadow.

Wall Street opened lower on Thursday, influenced by an uptick in jobless claims, sparking concerns about labor market health. The weekly jobless claims hit 225,000, slightly above the economist's forecast of 220,000, prompting fears over potential economic slowdown.

Investors remained cautious ahead of key nonfarm payroll data and amid escalating tensions in the Middle East. Notably, Tesla, Apple, and Alphabet shares faced premarket declines. Rising Treasury yields further pressured rate-sensitive stocks.

In other developments, a workers' strike on the East and Gulf coasts extended to its third day, while Levi Strauss shares plummeted following a potential sale announcement of its Dockers brand. Oil stocks edged upward amid rising crude prices.

(With inputs from agencies.)