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Benchmark US stock indices closed mixed on Thursday, November 19, after the latest government data showed jobless claims and layoffs declined last week, showing signs of an economic recovery.
The S&P 500 increased 0.34% to 4,704.54. The Dow Jones fell 0.17% to 35,870.95. The NASDAQ Composite was up 0.45% to 15,993.71, and the small-cap Russell 2000 fell 0.56% to 2,363.59.
Markets remained volatile on Thursday despite the strong quarterly results of some companies.
On Thursday, the Labor Department said jobless benefit claims fell to 268,000 last week against 269,000 claims a week earlier. The average weekly claims were 218,000 in 2019.
The decline in jobless claims and layoffs indicated signs of recovery in the labor market, economists said. However, they said although the demand for labor and job openings are high, businesses continue to struggle to find suitable workers to fill the roles.
Consumer discretionary, information technology, and healthcare segments on the S&P 500 index saw significant gains. Utility, basic materials and financials trailed. Three out of 11 segments of the index stayed in the positive territory.
Macy's Inc (M) stock jumped around 20% in intraday trading after posting revenue of US$5,440 million, up 36% YoY. It raised the guidance for full-year 2021 after the results.
Kohl's Corporation’s (KSS) third-quarter net sales rose 15.5% YoY. It also raised the full-year outlook. The stock gained 10.62% at the close.
Alibaba revenue jumped 29% YoY to US$31,147 million but net income fell 39% in the third quarter.
The company lowered the guidance and now expects the fiscal 2022 revenue growth to be between 20% and 23% YoY, down from its earlier forecast of about 29.5% YoY.
The Sweetgreen Inc (SG) stock jumped around 300% on the first day of trading on NYSE after IPO. It was trading at US$50.22 at 3:53 pm ET.
In another development, Zipline and Walmart Inc (WMT) have started drone delivery services in Arkansas. The WMT stock was up around 0.86% at the close of the regular session.
In the consumer discretionary sector, Amazon.com Inc. (AMZN) stock increased 4.25%, Tesla Inc. (TSLA) was up 0.47%, and Bath and Body Works, Inc. (BBWI) gained 5.46%. ETSY Inc (ETSY) grew 2.78%, and Home Depot (HD) increased 2.69%.
In the information technology sector, Nvidia Corp. (NVDA) gained 8.62%, Apple Inc. (AAPL) surged 3.20%, and Advanced Micro Devices Inc. (AMD) grew 2.28%. Micron Technology (MU) and Texas Instrument Incorporated (TXN) rose 2.15% and 2.00%, respectively.
In the utility sector, NextEra Energy Inc. (NEE) declined 0.10%, Duke Energy Corporation (DUK) fell 0.71%, and Southern Company (SO) decreased 0.84%. DBA Sempra (SRE) and Dominion Energy Inc. (D) fell 0.25%, respectively.
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Futures & Commodities
Gold futures were down 0.43% to US$1,862.10 per ounce. Silver decreased by 1.17% to US$24.872 per ounce, while copper grew 0.92% to US$4.3053.Brent oil futures surged by 1.00% to US$81.08 per barrel and WTI crude futures were up 0.94% to US$78.28.
Bond Market
The 30-year Treasury bond yields declined 1.53% to 1.966, while the 10-year bond yields were down 1.48% to 1.580.US Dollar Futures Index decreased by 0.30% to US$95.537.
