A gauge of global stocks was lower for a third straight session on Thursday, after U.S. economic data indicated the labor market remains solid while progress on tamping down inflation may be waning. The Labor Department said initial claims for state unemployment benefits dropped 4,

Stock futures were lower prior to the data. Aggressive buying came into stocks after the data. Buying is aggressive in Trump linked stocks such as Tesla Inc TSLA. Bitcoin was pulling back before CPI was released. Aggressive buying came in after the release of the data.

NEW YORK (Reuters) -A gauge of global stocks fell for a second straight session on Wednesday and longer-dated U.S. Treasury yields rose in choppy trading as investors assessed the latest U.S. inflation data and the path of interest rates from the Federal Reserve.

U.S. equity futures edged lower in early Wednesday trading, while Treasury yields moved higher and the dollar steadied, as investors looked to a key inflation reading that could accelerate repricing of the so-called 'Trump Trade' and test the market's solid post-election rally.

Stocks were lower and yields were higher on Tuesday, with markets reflecting the uncertain transition from campaign promises to real-world policies.

The main UK stock indexes slipped on Wednesday as traders awaited key U.S. inflation data to gauge the path of monetary policy, while defence company Smiths Group rallied to record highs after upgrading its revenue outlook.