U.S. equities closed mostly lower on Thursday as declines in tech offset a rally in financial stocks, while investors digested economic data.
The Dow Jones Industrials strengthened 68.35 points to 19,191.93, with Goldman Sachs leading advancers and Intel the biggest decliner.
The S&P 500 moved into the red 7.73 points to 2,191.08, with information technology leading six sectors lower and financials the biggest riser.
The NASDAQ composite index 72.57 points, or 1.4%, to 5,251.11, as Apple and most of the so-called FANG stocks (Facebook, Amazon, Netflix and Google parent Alphabet) fell. Many NASDAQ members gave up much of their post-election gains.
In corporate news, Land's End and Dollar General both reported quarterly results before the bell. Meanwhile, Clarcor is being bought by Parker Hannifin for $4.3 billion U.S. in cash and assumed debt, or $83.00 U.S. per share.
In economic news, The IHS Markit U.S. Manufacturing index reading for November came in at 54.1.
The Institute for Supply Management manufacturing index came in at 53.2 for November, while construction spending rising 0.5% for October. Before the bell, initial jobless claims came in at 268,000, above an expected 253,000. Thursday's litany of data will build up
towards Friday's November jobs report.
Treasury prices for the 10-year note fell sharply, raising yields to 2.44% from Wednesday’s 2.39%. Treasury prices and yields move in opposite directions.
Oil prices spiked $1.44 to $50.88 U.S. a barrel
Gold prices lost 70 cents to $1,173.20 U.S. an ounce.
