US open: Stocks varied as investors mull mixed jobs data

US stocks were varied on Thursday as investors digested mixed data on the labour market, while fashion and department store stocks tumbled and the dollar slipped.

The Dow Jones Industrial Average and S&P 500 futures were flat at 19,936.91 and 2,270.72, but the Nasdaq rose 0.27% to 5,491.58 at 1509 GMT.

Connor Campbell, financial analyst at Spreadex, said the Dow struggled to find the record-breaking momentum it had before Christmas, but perhaps the first non-farm jobs report of 2017 could inspire some more movement from the weighty index on Friday.

Meanwhile, oil prices increased, with West Texas Intermediate up 1.22% to $57.14 a barrel and Brent crude 1.19% firmer to $53.92 at 1512.

Gold on Comex gained 1.12% to 1,178.40 per troy ounce.

Data painted a mixed picture of the country’s jobs market as the private sector added 153,000 jobs in December, according to the ADP employment report – a precursor to Friday’s all-important non-farm payrolls – down from the revised 215,000 the previous month. This was below the consensus forecast of 175,000.

Initial jobless claims fell 28,000 in the week ended 31 December, a near 43-year low, to 235,000 from a upwardly revised 263,000 the previous week. Economists had expected a drop to 260,000.

In other data, Markit’s US services purchasing managers’ index came in at 53.9 in December, lower than the November reading of 54.6. Analyst has expected 53.4.

The ISM non-manufacturing purchasing managers’ index remained flat at 57.2 in December and above the 56.8 expected.

In currency markets, the dollar slipped 0.14% versus the pound, was down 0.63% against the euro and 1.22% lower versus the yen.

On the corporate front, department store stocks were under the cosh after Macy’s tumbled 13.14% after it said late on Wednesday that it plans to close 68 stores and cut 6,200 employees in 2017, and Kohl’s sank 17.1% after it downgraded its fiscal 2016 earnings outlook.

Fashion retailers also retreated as Michael Kors fell 4.57%, L Brands was down 7.08% and Nordstrom was weaker by 8.36%.

Elsewhere, CEB soared 21.49% after IT research company Gartner, which was down 6.93%, agreed to buy the tech firm in a cash and stock deal worth about $2.6bn.