Dow ends higher, S&P 500 and Nasdaq pause rally as small-cap stocks outperform
U.S. stocks closed mostly lower on Thursday as investors sold high-flying...
U.S. stocks closed mostly lower on Thursday as investors sold high-flying tech stocks and bought small-caps, real-estate stocks, and other rate-sensitive sectors of the market in anticipation of the Federal Reserve's September pivot to lower interest rates.
The S&P 500 shed 49.39 points, or 0.9%, closing at 5,584.54.
The Nasdaq Composite Index fell 364.04 points, or 2%, finishing at 18,283.4.
According to Dow Jones Market Data, it was the S&P 500 and Nasdaq's biggest daily percentage decline since April 30. Both closed at fresh records on Wednesday.
The Russell 2000 index outperformed, gaining about 3.6%. It was the Russell 2000's biggest one-day outperformance of the Nasdaq on record.
U.S. weekly initial jobless claims fall to lowest level since May
The numbers: Initial jobless claims fell by 17,000...
The numbers: Initial jobless claims fell by 17,000 to 222,000 in the week ending July 6, the Labor Department said Thursday. This is the lowest level since late May, when economists polled by the Wall Street Journal estimated that new claims would fall by 2,000 to 236,000.
The weekly decline in claims is the highest since last September. Last week, claims rose a revised 5,000 to 239,000. The initial estimate was for a rise of 4,000 to 238,000.
Key details: The four-week moving average of claims dipped to 233,500 from 238,750 in the prior week.
The number of people already collecting jobless benefits in the week that ended June 29 fell by 4,000 to 1.85 million.
U.S. Energy Information Administration reported that ...
U.S. Energy Information Administration reported that U.S. crude inventories fell by 3.4 million barrels to 445.1 million barrels in the week ended July 5, far exceeding analysts’ expectations in a Reuters poll for a 1.3 million-barrel draw.
A research firm found that Tesla’s share of the U.S. electric car market fell to less than 50% in the...
A research firm found that Tesla’s share of the U.S. electric car market fell to less than 50% in the second quarter as the popularity of General Motors, Ford, Hyundai, and Kia models grew, reported the New York Times.
Blackstone buys Engas' stake in Tallgrass for $1.1B
Spanish gas grid operator...
Spanish gas grid operator Enagas is offloading its 30.2% interest in US energy infrastructure company Tallgrass Energy to Blackstone for $1.1 billion. The proceeds will be used to finance Enagas' strategy to transition from natural gas to hydrogen infrastructure.
