Sat, 31 Jul 2021

U.S. stocks open mixed as jobless claims rise

Xinhua
23 Jul 2021, 02:18 GMT+10

NEW YORK, July 22 (Xinhua) -- U.S. stocks opened mixed on Thursday after data showed the number of Americans filing for first-time jobless benefits unexpectedly rose last week.

Shortly after the opening bell, the Dow Jones Industrial Average decreased 67.10 points, or 0.19 percent, to 34,730.90. The S&P 500 fell 2.70 points, or 0.06 percent, to 4,358.69. The Nasdaq Composite Index rose 20.05 points, or 0.14 percent, to 14,652.00.

Eight of the 11 primary S&P 500 sectors declined in morning trading, with energy down 1.4 percent, leading the laggards. Utilities rose 0.5 percent, the best-performing group.

On the economic front, U.S. initial jobless claims, a rough way to measure layoffs, jumped 51,000 to 419,000 in the week ending July 17, following an upwardly revised level of 368,000 in the prior week, the Department of Labor reported on Thursday. Wall Street analysts surveyed by Refinitiv were expecting 350,000 filings for the latest week.

The four-week moving average was 385,250, an increase of 750 from the previous week's revised average, showed the report.

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