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

MumbaiApple Opens Second Mumbai Store at Sky City Mall, Borivali; Expands Retail Presence in India

TechnologyiOS 26.2 Update: New Privacy Controls, Smarter Notifications; All You Need to Know About Latest iPhone OS Features

NationalApple Opposes Mandatory Cyber App Installation Amid Surveillance Concerns

TechnologyApple Layoffs: iPhone Maker Cuts Jobs Across Sales Segment, Says Report

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

कारोबार Realted Stories

BusinessHoneyy Katiyal Shares Insights on Scaling Trust, Resilience, and Leadership in Real Estate on Bada Business Podcast

BusinessIndia, Vietnam have strong opportunities in textile, investment cooperation amid global challenges: Vietnamese trade official

BusinessJan Vishwas Bill, 2026 decriminalises minor offences in health sector

BusinessSafety Controls & Devices Limited Secures RS. 12.67 Crore Anchor Investment Ahead of IPO Opening on April 06, 2026

BusinessFood prices to rise further globally if West Asia crisis stretches beyond 40 days: FAO