City
Epaper

US stocks close higher amid jobs data

By IANS | Updated: December 6, 2019 05:40 IST

US stocks closed higher on Thursday as investors digested the latest jobs data.

Open in App

On Thursday, the Dow Jones Industrial Average was up 28.01 points, or 0.10 per cent, to 27,677.79. The S&P 500 rose 4.67 points, or 0.15 per cent, to 3,117.43. The Nasdaq Composite Index was up 4.03 points, or 0.05 per cent, to 8,570.70, Xinhua news agency reported.

More than half of the 30 Dow components traded in green territory, with Nike and Apple increasing 2.21 per cent and 1.47 per cent, respectively, the top two gainers.

Eight of the 11 primary S&P 500 sectors traded on an upbeat note, with the materials sector adding 0.66 per cent, the top gainer.

The number of Americans filing applications for unemployment benefits unexpectedly fell last week, according to data released by the US Labor Department on Thursday.

In the week ending Nov. 30, the initial claims for state unemployment benefits dropped 10,000 to 203,000 on a seasonally adjusted basis, said the department.

The four-week moving average was 217,750, a decrease of 2,000 from the previous week's unrevised average of 219,750, said the department.

Private payrolls, however, increased by only 67,000 in November, according to ADP and Moody's Analytics on Wednesday.

"The job market is losing its shine. Manufacturers, commodity producers, and retailers are shedding jobs," said Mark Zandi, chief economist of Moody's Analytics.

He added that if job growth slows any further, unemployment will increase.

( With inputs from IANS )

Tags: Mark ZandiNasdaq Composite IndexXinhuaNikeapple
Open in App

Related Stories

TechnologyIT Layoffs 2025: Microsoft, Google, Apple Among 284 Tech Companies That Cut Jobs in First 5 Months

International"Don’t Set Up Production in India, Make In U.S": Donald Trump Sends Out Clear Message To Apple CEO Tim Cook

Health5 Foods to Add to Your Plate to Stay Super Healthy

TechnologyApple Bans 135,000 Apps From App Store Over Missing Trader Information

TechnologyiOS 18.2: Apple Rolls Out 10 New Features in Latest Software Update

कारोबार Realted Stories

Business172 hydrocarbon discoveries in 10 years, 62 offshore, as Modi govt opens ‘No-Go’ Zones: Hardeep Puri

BusinessOver 22 crore farmers receive Rs 1.83 lakh crore compensation under PMFBY since 2016

BusinessNMDC records over 42 pc jump in iron ore production in July

BusinessSeven coal blocks successfully auctioned in 12th round of commercial auctions

BusinessRBI policy meet, US tariff, among key triggers for market next week