US stocks fell Thursday despite better-than-expected jobless claims and production data.
The Dow Jones Industrial Average ended its six-day winning streak down 90.55 points, or 0.25%, while the S&P 500 and Nasdaq Composite were down 0.30% and 0.16%, respectively.
|Me: DJI||DOW JONES AVERAGE VALUES||36398.08||-90.55||-0.25%|
|Me: COMP||NASDAQ COMPOSITE INDEX||15741.564057||-24.65||-0.16%|
Microsoft, Procter & Gamble, McDonald’s and Nike accounted for half of the Dow’s losses on Thursday.
|PG||PROCTER & GAMBLE CO.||162.77||-1.42||-0.86%|
Oil is trading around $ 76 a barrel.
STOCK FUTURES TRADE HIGHER ACCORDING TO UNEMPLOYMENT ELIGIBILITY DATA
On the front line of economic data, initial jobless claims claims for the week ended December 25 stood at 198,000, up from a revised 206,000 the previous week, according to Labor Department data released Thursday. Analysts The people surveyed by Refinitiv expected 208,000 total claims.
Current claims, which measure the total number of unemployed people receiving benefits, decreased to 1.716 million, a decrease from the previous week.
Manufacturing activity in the Midwest also expanded faster than expected after the Institute for Supply Management’s Chicago Purchasing Managers’ Index hit 63.1 in December. A value of 50 is the dividing line between an expanding and a shrinking manufacturing sector.
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The US 10-year Treasury yield fell from a five-week high on Thursday to 1.514%.
In stocks, Biogen’s shares fell more than 7% after Samsung rejected a report by Korea Economic Daily that it was in talks to buy the biotech giant and Micron Technology fell 2% after the semiconductor giant faced production delays warned of closures in Xi’an, China due to COVID-19.
|MU||MICRON TECHNOLOGY INC.||93.89||-2.28||-2.37%|
Virgin Galactic’s shares rose 6% after satellite-based sister company Virgin Orbit made its Nasdaq debut through an approved SPAC merger with NextGen Acquisition Corp II. Virgin Orbit, trading under the ticker symbol VORB, fell as much as 8% on Thursday but reversed the majority of its losses by the end of the session. Meanwhile, its warrants, which trade under the symbol VORBW, plummeted about 12%.
|PCE||n / A||n / A||n / A||n / A|
|speech||NEXTGEN ACQUISITION II||9.10||-0.12||-1.30%|
|VORBW||NEXTGEN ACQUISITION CORP II C / WTS 03/23/26 (TO PUR COM)||1.42||-0.21||-12.88%|
Overseas, Japan’s benchmark index Nikkei 225 lost 0.4%, Hong Kong’s Hang Seng index rose 0.1% and China’s Shanghai Composite rose 0.6%.
In Europe, the London-based FTSE lost 0.2%, while the German DAX rose 0.2% and the Euro Stoxx 50 rose 0.5%.
On Friday, US stock markets will trade on a regular schedule while the bond market has a shortened trading hour and closes at 2:00 p.m. ET.