Stocks traded slightly lower on Thursday as the S&P 500 traded just below a record high and traders digested better-than-expected unemployment data.
The Dow Jones Industrials retreated 55.06 points to 27,921.78.
The S&P 500 inched up 1.21 points, or 1.4%, to 3,381.56
The NASDAQ jumped 90.21 points to start Thursday at 11,102.45.
Cisco Systems dropped more than 10% on the back of disappointing earnings guidance to lead the Dow lower. Stocks of companies that would benefit from the economy reopening struggled as well. Gap dipped 2.4%. American Airlines and Southwest slid 1.3%. Meanwhile, shares of Apple gained 1%. Facebook and Amazon were also higher.
Initial weekly jobless claims fell to 963,000, the U.S. Labor Department said. That’s below a Dow Jones estimate of 1.1 million. It was also the first time since late March that jobless claims came in below one million.
Prices for the 10-Year Treasury demurred, raising yields to 0.68% from Wednesday’s 0.67%. Treasury prices and yields move in opposite directions
Oil prices gained 0.05 cents to $42.62 U.S. a barrel.
Gold prices regained $8.20 to $1,957.20 U.S. an ounce.
