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Industrial and aerospace giant Honeywell slid 3.5% after forecasting downbeat sales and profit for 2025. The company also announced plans to split into three independent entities, a move that failed to lift investor sentiment.
Ford shares tumbled 5.2% after the automaker projected up to $5.5 billion in losses from its electric vehicle and software operations this year. The company also warned of a challenging 2025 outlook, further weighing on its stock.
Jobless Claims Rise More Than Expected
New unemployment claims rose to 219,000 last week, exceeding the expected 214,000. The four-week moving average ticked up to 216,750, signaling some softening in the labor market. Continuing claims also increased to 1.89 million, suggesting that more workers are struggling to find new jobs.
Despite the uptick, jobless claims remain within their recent range, and markets are now shifting focus to Friday’s nonfarm payrolls report for a clearer picture of labor market strength.
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