US open: Markets unchanged amid positive unemployment data

Markets opened largely unchanged on Thursday as investors were disappointed by the European Central Bank's (ECB) stimulus programme, although US unemployment data delivered positive news, as it exceeded expectations.

At a press conference in Italy on Thursday, ECB President Mario Draghi announced that the bank will buy assets for the next two years at least, in a bid to boost economic growth and inflation in the Eurozone. The ECB is expected to commence buying bonds in October, while it plans to purchase asset-backed securities within the final quarter of 2014.

Data released on Thursday showed an unexpected fall in the number of applications for unemployment benefits, an indication, according to analysts, that the job market is continuing to progress. Jobless claims fell to 287,000 in the week ended 27 September, 8,000 down from a revised 295,000 in the previous period and 10,000 units below the estimate.

According to data published by the Labor Department, initial jobless claims have been below the 300,000 for three consecutive weeks and five of the last seven, while the average of new claims in September fell to 294,750, just marginally above an eight-year low.

Meanwhile, layoffs in September fell to their lowest level since 2000 and factory orders are expected to drop 9.5% in August, after a 10.5% rise in July.

In corporate news, Tesla Motors rose following the news that the electric-car maker will introduce a new product next week, while Twitter rose after JP Morgan raised its recommendation on the shares of the social media network.

DirecTV registered a slight gain after announcing it had reached an agreement to continue airing National Football League matches on Sundays.

Esperion Therapeutics soared before the bell, after announcing late on Wednesday night that a mid-stage clinical trial showed its ETC-1002 treatment offered a significant help in reducing bad cholesterol, while Bank of America rose slightly after announcing that chief executive Brian Moynihan will succeed Charles Holliday Jr as chairman.

Constellation Brands fell over 3%, as the owner of Modelo and Corona brands reported second-quarter sales of $1.61bn which fell below analyst expectations. The beverage maker added it intends to buy a warehouse, glass plant, land and rail infrastructure in Mexico from Anheuser-Busch InBev NV for $300m.

West Texas Intermediate crude futures fell more than one percentage point, while gold rose slightly and was trading at $1,216 an ounce.

The dollar rose against the pound but was in retreat against the yen and the euro. The 10-year US Treasury note rose three basis points, while the 30-year bond rose by the same margin and the five-year note also rose slightly.