Stocks end mixed on Thursday, while the Russell 2000 closes at a new record
Thursday was a day when the major U.S. stock indexes...
Thursday was a day when the major U.S. stock indexes had trouble making up their minds. After weaving in and out of negative territory, the indexes ended the day mixed: The Dow Jones Industrial Average ended lower, while the S&P 500 and the Nasdaq ended higher.
It was the third consecutive day of gains for the S&P 500 and Nasdaq.
Stocks seemed to be in a holding pattern as investors digested this morning's jobless-claims data and waited for tomorrow's delayed inflation report. The Federal Reserve is also scheduled to deliver its interest-rate decision next week, which could be a market-moving event.
However, the clear winner of the day was small caps, with the Russell 2000 gaining 0.8% and closing at a new record. It was the first record close for the index since Oct. 27.
The Dow Jones Industrial Average closed at 47,850.94, down about 0.1%.
The S&P 500 closed at 6,857.12, up 0.1%.
The Nasdaq Composite closed at 23,505.14, up 0.2%.
Jobless claims sink to 3-year low in no-hire, no-fire U.S. economy
The number of people who applied for unemployment benefits...
The number of people who applied for unemployment benefits around the Thanksgiving holiday fell to a more than three-year low, reinforcing the view that businesses are mostly avoiding layoffs even as they freeze hiring.
The drop in new claims last week was likely exaggerated by Thanksgiving. Lots of people who lose jobs around a holiday tend to delay filling out their applications.
Still, the number of people losing jobs each week and applying for benefits remains very low historically.
So-called initial jobless claims sank by 27,000 to 191,000 in the seven days ended Nov. 29, from a revised 218,000 in the prior week, the government said Thursday. It’s the lowest reading since September 2022.
Key details: The number of people already collecting unemployment benefits — known as continuing claims — fell slightly to 1.94 million.
These claims sit near a post-pandemic high, however, in a sign of how much harder it’s gotten to find a job.
Europe's oil, gas revival may undercut future US exports
Several European countries are reopening the door to new oil and natural...
Several European countries are reopening the door to new oil and natural gas development to reduce dependence on crude and LNG imports that soared after Russia's invasion of Ukraine. Greece has issued its first offshore exploration license in decades, while Italy, Britain and Norway are advancing or considering additional drilling. The renewed exploration push, encouraged by the Trump administration, could complicate the EU's commitment to expand US energy purchases and its legally binding goal of reaching net-zero emissions by 2050.
BNEF: Data center power demand may rise 106 GW by 2035
Data centers in the US may require 36% more power than previously forecast,...
Data centers in the US may require 36% more power than previously forecast, with BloombergNEF raising its projection for electricity demand to 106 gigawatts by 2035. BNEF's last forecast came out in April and the rapid uptick indicates "just how quickly the sector is expanding," it says. The surge poses a significant challenge for the power grid, as data centers are being built much faster than new power generation sources.
Trump admin to roll back car fuel-efficiency standards
With executives from General Motors, Ford, and Stellantis in attendance,...
With executives from General Motors, Ford, and Stellantis in attendance, President Trump announced plans to weaken Biden-era fuel-economy standards intended to boost electric cars. Under newly proposed Department of Transportation rules, most cars would need to achieve 34.5 miles per gallon through the 2031 model year, down from the 50 miles per gallon standard adopted under former President Biden. The DOT said the proposal would save Americans $109 billion over the next five years, while critics say the change will encourage automakers to continue to focus on environmentally unfriendly vehicles that could ultimately cost consumers more at the gas pump.
