Why Roblox Shares Are Moving Today

Roblox Corp RBLX shares are trading lower by 6.61% to $26.04 Thursday afternoon. Shares of companies in the broader communication, media and entertainment industry are trading lower as stocks pull back after gaining on Wednesday.

Jobless claims for September came in below estimates, which may lead to further Federal Reserve monetary policy tightening and weigh on consumer spending.

What Happened?

U.S. initial jobless claims unexpectedly fell last week to the lowest levels since April, signaling the labor market remains resilient despite continued rate hikes from the Federal Reserve.

Jobless claims decreased by 16,000 for the week ending Sept. 24 to 193,000 from a downwardly revised level of 209,000 in the prior week, according to data the Labor Department released on Thursday...Read More

See Also: Surprise! Jobless Claims Fall To Lowest Levels Since April: What You Need To Know Now