Wall Street broke June's rally during Thursday's rocky session, ending trading flat as the Labor Department's weekly jobless claims report came slightly above expectations. The session wasn't all losses though, for the Nasdaq 100 reached a new intraday all time high before being pulled down by major tech stocks like Facebook
Filings for unemployment insurance claims totaled 1.877 million last week, totaling lower than 2 million for the first time since March 14, but still too high to signal recovery. Thursday's report also upwardly revised the prior week's unemployment reading to 2.126 million, along with continuing jobless claims settling at 21.5 million. With more than 42.6 million Americans filing for unemployment benefits since the coronavirus pandemic related shutdowns, May's unemployment rate is now feared to have risen to about 20%.
Here's how the market settled on Thursday:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
In Major Stock News, ZoomInfo Technologies
In Stock Sector News, sectors mostly lost the leads they has gained during Wednesday's session. Only Financials +1.97%, Industrials +1.05% and Materials +0.35% ended Thursday's session with gains. For the rest, the negative performance moves were as follows: Utilities -1.95%, Real Estate -1.80%, Information Technology -0.84%, Health Care -0.81%, Communication Services -0.81%, Consumer Staples -0.59%, Consumer Discretionary -0.55% and Energy -0.15%.
In Commodity and Currency News, crude futures for July continue to steadily climb from their historic drop in April. West Texas Intermediate
As the market heads into its final day of trading this week, investors will focus on nonfarm payrolls for May as well as more U.S-China relations headlines.