U.S. stocks end mixed amid disappointing jobless claims data
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E-mail Xinhua, February 12, 2021
NEW YORK, Feb. 11 (Xinhua) -- U.S. stocks finished mixed on Thursday as investors sifted through the nation's jobless claims numbers.
The Dow Jones Industrial Average fell 7.10 points, or 0.02 percent, to 31,430.70. The S&P 500 rose 6.50 points, or 0.17 percent, to 3,916.38. The Nasdaq Composite Index was up 53.24 points, or 0.38 percent, to 14,025.77.
Seven of the 11 primary S&P 500 ended in red, with energy down 1.52 percent, leading the laggards. Technology advanced 1.09 percent, the best-performing group.
U.S.-listed Chinese companies traded mostly higher with nine of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on an upbeat note.
U.S. initial jobless claims, a rough way to measure layoffs, came in at 793,000 in the week ending Feb. 6, a decrease of 19,000 from the previous week's revised level, the Department of Labor reported on Thursday. The reading was worse than an estimate of 760,000 from economists polled by Dow Jones.
The four-week moving average was 823,000, a decrease of 33,500 from the previous week's revised average, showed the report.
On Wednesday, Federal Reserve Chair Jerome Powell said the U.S. employment picture is still "very far from a strong labor market," while underscoring the importance of maintaining "a patiently accommodative monetary policy stance" to boost the labor market recovery amid the ongoing COVID-19 pandemic. Enditem
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