Wall Street Today | U.S. jobless claims fall to 166,000, lowest level since 1968

Stocks in Asia looked set for a muted start Friday as investors digest the Federal Reserve's plan for aggressive policy tightening.

Futures rose for Australia and Japan but dipped for Hong Kong. U.S. contracts fluctuated following modest Wall Street gains Thursday. Global shares are on course for their worst week in four, hurt by the risk of an economic downturn as the Fed tackles high inflation.

The European Union agreed to ban coal imports from Russia in its first move targeting Moscow's crucial energy revenue after reports of Russian atrocities in Ukraine propelled officials to expand its fifth round of sanctions.

The sanctions package, which also includes a ban on most Russian trucks and ships from entering the EU, was signed off by the bloc's diplomats Thursday, France announced. It was also coordinated with the U.S. and the U.K. Member states have until Friday morning to lodge final objections before the sanctions are formally adopted.

New applications for U.S. unemployment benefits fell last week to a near 54-year low as employers held on to workers in a tight labor market.

Initial jobless claims, a proxy for layoffs, fell to 166,000 during the week that ended on April 2, compared with a revised 171,000 the prior week, the Labor Department said Thursday. The weekly total was the lowest since November 1968, when the labor force was less than half of its current size.

The rate Americans pay for a mortgage keeps going up.

The average rate for a 30-year fixed-rate home loan edged higher to 4.72% from 4.67% a week earlier, mortgage-finance giant Freddie Mac said Thursday. That marked the weekly figure's highest reading since December 2018.

The London-based oil major provided the guidance Thursday ahead of quarterly earnings scheduled for May 5. The disclosure gives investors additional clues about the impact Western companies face as a result of moves to divorce themselves from Russia.

The company, in a bid to keep its supply chain running smoothly, is setting starting salaries for its truck drivers between $95,000 and $110,000 a year, up from an average starting salary of $87,000, said a Walmart spokeswoman. The internal training program will offer workers in other Walmart roles a 12-week course to become certified truck drivers and join the company's internal fleet, the company said.