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Stocks were little changed 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 remained red 29.4 points to 27,947.44
The S&P 500 inched up 4.22 points to 3,384.57
The NASDAQ jumped 99.34 points to 11,111.58.
Cisco Systems dropped more than 11% 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 slid 32 cents to $42.35 U.S. a barrel.
Gold prices regained $5.70 to $1,954.70 U.S. an ounce.
