US close: Stocks mixed as jobless claims remain stable
Wall Street stocks closed as they opened on Thursday, in a mixed state, as market participants digested this week's jobless claims figures from the Labor Department and updates from Cisco and Macy's.
At the close, the Dow Jones Industrial Average was down 0.17% at 35,870.95, while the S&P 500 added 0.34% to 4,704.54 and the Nasdaq Composite was 0.45% firmer at 15,993.71.
The Dow closed 60.1 points lower on Thursday, extending the losses it recorded in the previous session.
“A late November spike in volatility seems to be on the cards, as the VIX ticks up for a second day,” said IG chief market analyst Chris Beauchamp earlier.
“The earlier bounce this month didn’t too much to hit equities, but now that most of earnings season is out of the way, and with a while to go until the next Fed meeting, the stars appear to be aligning for a period of weakness within the overall strong period usually witnessed in the fourth quarter.”
Thursday's primary focus was once again fresh initial jobless claims figures, which remained relatively stable in the week ended 13 November.
The data from the Labor Department was a potential signal that the elevated level of layoffs seen during the Covid-19 pandemic may have plateaued.
First time claims for unemployment totalled 268,000 last week, a decline of 1,000 from the prior week to a fresh pandemic-era low but higher than estimates for a print of 260,000.
Continuing claims declined by 129,000 to 2.08m, the lowest reading seen since 14 March 2020, while the four-week moving average declined to 272,750.
Elsewhere on the macro front, manufacturing activity in the US mid-Atlantic region accelerated sharply in November, the results of a closely-followed index showed.
The Federal Reserve Bank of Philadelphia's factory sector index jumped from 23.8 in October to 39.0 for November. Economists had pencilled-in a decline to 22.0.
In equities, department store stalwart Macy’s rocketed 21.17% after its third quarter numbers sailed well beyond expectations.
Its more downmarket rival Kohl’s, meanwhile, was 10.62% firmer after it too beat the Street’s expectations.
Elsewhere, Deer & Co managed gains of 1.02% after the maker of iconic green tractors reached a deal with workers, who called off the strike that had been ongoing since 14 October.
On the downside, corporate networking name Cisco dropped 5.51% after it served up fresh, but disappointing, guidance to investors.
Dow Jones - Risers
Apple Inc. (AAPL) $157.87 2.85%
Home Depot Inc. (HD) $405.85 2.79%
Walmart Inc. (WMT) $143.16 0.86%
Microsoft Corp. (MSFT) $339.12 0.63%
Merck & Co. Inc. (MRK) $83.05 0.54%
McDonald's Corp. (MCD) $253.48 0.31%
Boeing Co. (BA) $227.05 0.28%
Unitedhealth Group Inc. (UNH) $449.47 0.12%
Walgreens Boots Alliance, Inc. (WBA) $47.82 0.02%
Procter & Gamble Co. (PG) $147.12 0.01%
Dow Jones - Fallers
Cisco Systems Inc. (CSCO) $53.63 -5.51%
3M Co. (MMM) $178.77 -2.49%
American Express Co. (AXP) $176.33 -1.89%
Salesforce.Com Inc. (CRM) $302.99 -1.63%
International Business Machines Corporation (CDI) (IBM) $116.66 -1.19%
Walt Disney Co. (DIS) $155.58 -1.11%
Intel Corp. (INTC) $49.68 -1.09%
Verizon Communications Inc. (VZ) $51.24 -0.95%
Coca-Cola Co. (KO) $55.41 -0.89%
Amgen Inc. (AMGN) $204.02 -0.87%
S&P 500 - Risers
Macy's Inc. (M) $37.37 21.17%
Kohls Corp. (KSS) $62.48 10.62%
Nvidia Corp. (NVDA) $316.75 8.25%
Nordstrom Inc. (JWN) $34.99 5.42%
Bath & Body Works, Inc. (BBWI) $78.45 5.05%
Gap Inc. (GPS) $24.80 4.38%
Amazon.Com Inc. (AMZN) $3,696.06 4.14%
Foot Locker Inc. (FL) $57.56 3.54%
CF Industries Holdings Inc. (CF) $67.57 3.51%
Apple Inc. (AAPL) $157.87 2.85%
S&P 500 - Fallers
Helmerich & Payne Inc. (HP) $26.16 -16.48%
Nektar Therapeutics (NKTR) $12.85 -8.48%
Cisco Systems Inc. (CSCO) $53.63 -5.51%
Wynn Resorts Ltd. (WYNN) $90.48 -4.76%
Twitter Inc (TWTR) $48.60 -3.97%
Ipg Photonics Corp. (IPGP) $164.81 -3.56%
Interpublic Group of Companies Inc. (IPG) $34.70 -3.32%
Kraft Heinz Co. (KHC) $35.37 -3.25%
Dish Network Corp. (DISH) $34.31 -3.24%
Lamb Weston Holdings, Inc. (LW) $56.90 -3.07%
Nasdaq 100 - Risers
Nvidia Corp. (NVDA) $316.75 8.25%
JD.com, Inc. (JD) $88.10 5.95%
Amazon.Com Inc. (AMZN) $3,696.06 4.14%
Apple Inc. (AAPL) $157.87 2.85%
Biomarin Pharmaceutical Inc. (BMRN) $82.92 2.70%
Ross Stores Inc. (ROST) $119.52 2.57%
Asml Holdings N.V. (ASML) $879.12 2.29%
Micron Technology Inc. (MU) $77.02 2.07%
Texas Instruments Inc (TXN) $193.47 2.06%
Dollar Tree Inc (DLTR) $134.25 2.04%
Nasdaq 100 - Fallers
Cisco Systems Inc. (CSCO) $53.63 -5.51%
Wynn Resorts Ltd. (WYNN) $90.48 -4.76%
Sirius XM Holdings Inc (SIRI) $6.63 -4.68%
Baidu Inc. (BIDU) $154.36 -4.61%
Kraft Heinz Co. (KHC) $35.37 -3.25%
Dish Network Corp. (DISH) $34.31 -3.24%
Paypal Holdings Inc (PYPL) $200.50 -2.80%
Mercadolibre Inc. (MELI) $1,446.10 -2.77%
Autodesk Inc. (ADSK) $322.18 -2.53%
Citrix Systems Inc. (CTXS) $84.73 -2.53%