US close: Stocks mostly higher as investors shrug off Fed concerns

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US stock markets saw a mixed but generally positive close on Thursday, largely shaking off earlier jitters.

A 50 basis point rate hike from the Bank of England across the pond was also in focus.

At the close of business, the Dow Jones Industrial Average was nearly flat, down just 0.01%, to settle at 33,946.71 points.

In contrast, the S&P 500 gained 0.37% to close at 4,381.89 points, while the technology-heavy Nasdaq Composite was the day's top performer, closing up 0.95% at 13,630.61.

In currencies, the dollar saw a slight uptick of 0.01% on sterling to trade at 78.46p, while it witnessed a marginal decrease of 0.01% against the common currency to 91.27 euro cents.

The greenback meanwhile decreased 0.03% against the yen to change hands at JPY 143.06.

"Oil bulls will be fervently hoping for a renewal of seasonal demand, since today’s 2% drop seems to suggest a new leg lower is at hand," said IG chief market analyst Chris Beauchamp earlier.

"The Bank of England’s renewed love for tighter policy is viewed as a step change among central banks, and the risks for oil demand are clear."

Job market maintains steadiness amid slight fluctuations in unemployment claims

The tightness in the US job market showed little variation last week, according to the latest data from the US Department of Labor.

The report, which provides an overview of the nation's employment situation, indicated that initial unemployment claims stayed static at 264,000 for the week ended 17 June.

While the number of new claims filed didn't change, the count for the previous week was modestly revised upward by 2,000.

Meanwhile, the four-week moving average, which offers a broader and more stable perspective of employment trends, saw a slight uptick.

The measure rose by 8,500 to reach 255,750. This increase suggests a marginal shift in the job market dynamics over the past month.

In terms of secondary unemployment claims – those not being made for the first time and covering the week until June 10 – there was a notable decline.

Those claims fell by 13,000 to a total of 1.759 million.

Tesla rebounds while Boeing faces headwinds

In equities, Tesla saw its shares rise 1.98% despite a downgrade from Morgan Stanley to an 'equalweight' rating.

On the other side of the spectrum, Boeing, encountered turbulence with its shares dropping by 3.05%.

This downward movement came after workers at Spirit Aerosystems, a key Boeing supplier, rejected a proposed wage offer and chose to strike.

Reporting by Josh White for Sharecast.com.

Dow Jones - Risers

Merck & Co. Inc. (MRK) $113.72 2.30%
Microsoft Corp. (MSFT) $339.71 1.84%
Salesforce.Com Inc. (CRM) $213.29 1.77%
Apple Inc. (AAPL) $187.00 1.65%
Amgen Inc. (AMGN) $229.66 1.15%
Johnson & Johnson (JNJ) $165.62 1.06%
Walgreens Boots Alliance, Inc. (WBA) $31.89 1.05%
Walmart Inc. (WMT) $155.75 0.84%
Coca-Cola Co. (KO) $61.85 0.68%
Cisco Systems Inc. (CSCO) $51.12 0.53%