U.S. stock indexes drifted lower following some potentially discouraging data on the economy.
The S&P 500 fell 0.5% Thursday, its third loss in the last four days. The Dow Jones Industrial Average fell 0.5%, and the Nasdaq composite dropped 0.7% from its record set the day before.
A report earlier in the morning said more U.S. workers applied for unemployment benefits last week than forecast. A separate update showed that inflation at the wholesale level was hotter last month than economists expected. Adobe sank after issuing weaker-than-expected financial forecasts. Treasury yields rose in the bond market.
On Thursday:
The S&P 500 fell 32.94 points, or 0.5%, to 6,051.25.
The Dow Jones Industrial Average fell 234.44 points, or 0.5%, to 43,914.12.
The Nasdaq composite fell 132.05 points, or 0.7%, to 19,902.84.
The Russell 2000 index of smaller companies fell 33.08 points, or 1.4%, to 2,361.08.
For the week:
The S&P 500 is down 39.02 points, or 0.6%.
The Dow is down 728.40 points, or 1.6%.
The Nasdaq is up 43.07 points, or 0.2%.
The Russell 2000 is down 47.91 points, or 2%.
For the year:
The S&P 500 is up 1,281.42 points, or 26.9%.
The Dow is up 6,224.58 points, or 16.5%.
The Nasdaq is up 4,891.49 points, or 32.6%.
The Russell 2000 is up 334.01 points, or 16.5%.
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Click the link below and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
