U.S. stocks closed narrowly mixed with slight gains in the Dow and declines in the Nasdaq and S&P 500. Jobless claims dipped unexpectedly while Asia-Pacific markets showed varied performance. Treasury yields fell after an early rise.
The major averages eventually ended the day narrowly mixed. While the Dow crept up 28.77 points (0.1%) to 43,325.80, the Nasdaq slipped 10.77 points (0.1%) to 20,020.37 and the S&P 500 edged down 2.45 points or less than a tenth of a% to 6,037.59.On the U.S. economic front, the Labor Department released a report this morning showing first-time claims for U.S. unemployment benefits unexpectedly edged slightly lower in the week ended December 21st.
The report said initial jobless claims slipped to 219,000, a decrease of 1,000 from the previous week's unrevised level of 220,000. Economists had expected jobless claims to rise to 224,000. Reflecting the lackluster close by the broader markets, most of the major sectors ended the day showing only modest moves. Brokerage stocks notably moved upwards with the NYSE Arca Broker/Dealer Index climbing by 1%.
Asia-Pacific stocks turned in a mixed performance with several major markets closed for Boxing Day. Japan's Nikkei 225 Index jumped by 1.1%, while South Korea's Kospi fell by 0.4%. the major European markets all remained closed on the day in observance of Boxing Day.
In the bond market, treasuries recovered from early weakness to end the day modestly higher. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, edged down by 1.2 bps to 4.57% after reaching a high of 4.64%.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
