Breaking Stock market at risk of snapping a four-day rally as partial government shutdown enters 19th day

U.S. stocks opened lower Thursday, with a multiday streak of gains for the three main indexes at risk, as a partial government shutdown enters its 19th day and optimism about trade talks fades somewhat. The Dow Jones Industrial Average slipped 120 points, or 0.5%, at 23,762, the S&P 500 index fell 0.6% at 2,570, while the Nasdaq Composite Index gave up 0.7% at 6,906. All three benchmarks have enjoyed four sessions in positive territory, with the S&P 500 and the Dow on the verge of breaking out of correction, defined as a drop of at least 10% from a recent high. By some measures, an asset is viewed as emerging from correction when it climbs at least 10% from its correction low. Meanwhile, China's economic data underlined a sharp slowdown in the world's second-largest economy, with a decline in consumer and producer prices. In economic news in the U.S., initial jobless claims, a rough way to measure layoffs, declined by 17,000 to a seasonally adjusted 216,000. Economists polled by MarketWatch had forecast a 227,000 reading in the seven days ended Jan. 5. Also, market participants await Federal Reserve Chairman Jerome Powell and his top deputy Vice Chairman Richard Clarida who are both set to speak later Thursday. Meanwhile, hedge-fund manager Eddie Lampert has reportedly submitted a $5 billion offer for Sears Holdings Corp. . Against that backdrop the partial government shutdown has entered its 19 day.

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