Markets dip slightly as U.S. jobless claims skyrocket

The Dow Jones Industrial Average lost more than 100 points Thursday morning as U.S. markets opened. The S&P 500 also opened in the red.

Futures were up slightly, as investors reacted to a rebound on oil barrel pricing, but pared down the gains as the Labor Department released a brutal jobs report.

The department reported before the markets opened that first-time unemployment claims in the U.S. doubled last week to a record-shattering 6.6 million. 

United States oil benchmarks were up 10% Thursday morning, as investors eye the possible end of the Saudi-Russian price war.

The Dow closed its first day of the second quarter yesterday down 1,000 points.