US open: Mixed start to trading in final session of 2020

Wall Street stocks started out the session somewhat mixed on Thursday as market participants got stuck into the year’s final day of trading.

As of 1550 GMT, the Dow Jones Industrial Average was down 0.09% at 30,381.10, while the S&P 500 was 0.03% firmer at 3,733.00 and the Nasdaq Composite started out the session 0.02% weaker at 12,867.53.

The Dow opened 28.46 points lower on Thursday, cutting into gains recorded in the previous session.

Thursday’s main focus was this week’s jobless claims report from the Labor Department as another 787,000 Americans applied for unemployment benefits, down 19,000 on the prior week to the lowest level seen since November but still historically elevated. In addition to the new applications, 5.2m Americans were still receiving unemployment benefits, down from 5.3m the week before.

Also in focus was news that the US government will raise tariffs on certain European goods such as French and German wines amid a long-running dispute over aircraft subsidies.

Aircraft components made in the EU would also be hit, according to the Office of the US Trade Representative, adding to the list of products taxed since 2019. The 27-member EU and US have been in dispute over subsidies for aircraft manufacturers Airbus and Boeing for 16 years.

No major corporate earnings were slated for release on Thursday.

Source link

Add a Comment