US stocks retreat after jobless claims data

3 min read | December 31, 2021 09:46 AM AEDT | By Versha Jain

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Benchmark US indices closed in the red on Thursday, December 30, after the latest labor data showed the first-time unemployment benefits claims declined last week.

The S&P 500 declined 0.30% to 4,778.73. The Dow Jones fell 0.25% to 36,398.08. The NASDAQ Composite shed 0.16% to 15,741.56, and the small-cap Russell 2000 fell 0.21% to 2,253.97.

On Thursday, the Labor Department said the first-time jobless benefits claims fell to a seasonally adjusted 198,000 in the week ended Dec 25 from 206,000 in the prior week.

The data showed the Omicron cases had no major impact on jobless benefits claim. Investors remained optimistic about the latest vaccination drive for Omicron.

Seven of the 11 sectors of the S&P 500 stayed in the positive zone. The real estate, healthcare, and technology sectors gained the most. Energy and consumer staple stocks were the bottom movers.

The Johnson & Johnson (JNJ) stock rose 1% after announcing preliminary results of its covid booster dose that showed an 85% effectiveness.

UnitedHealth Group Incorporated (UNH) stock climbed 0.12%, and Pfizer Inc. (PFE) rose 1.39%. Thermo Fisher Scientific Inc (TMO) gained 0.65% and Abbott Laboratories (ABT) surged 0.06%.

Biogen Inc. (BIIB) stock fell over 7% after Samsung Biologics refuted media reports that it is buying the Cambridge, Massachusetts-based biotechnology company.

The Tesla, Inc. (TSLA) stock slumped around 0.50% after the company said it is recalling over 475,000 Model 3 and Model S cars for defects in the rearview camera and trunk.

In the real estate sector, American Tower Corporation (REIT) (AMT) stock gained 0.70%, Prologis Inc. (PLD) surged 0.47%, and Crown Castle International Corp. (CCI) jumped 0.35%. Equinix Inc. (EQIX) and Public Storage (PSA) increased by 0.42% and 0.09%, respectively.

In the energy sector, Exxon Mobile Corporation (XOM) slipped 0.49%, Chevron Corporation (CVX) plunged 0.47%, and ConocoPhillips (COP) fell 0.73%. EOG Resources Inc. (EOG) and Pioneer Natural Resources Company (PXD) were down 0.45% and 1.06%, respectively.

The global cryptocurrency market was up 0.62% to US$2.23 trillion, as per coinmarketcap.com. Bitcoin (BTC) rose 0.26% to US$47,608.12 at 3:30 pm ET on Thursday.

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Futures & Commodities

Gold futures climbed 0.64% to US$1,817.35 per ounce. Silver futures increased by 1.20% to US$23.133 per ounce, while copper declined 0.58% to US$4.3872.

Brent oil futures decreased by 0.09% to US$79.14 per barrel and WTI crude futures were up 0.04% to US$76.59.

Bond Market

The 30-year Treasury bond yields decreased 1.50% to 1.925, while the 10-year bond yields were down 1.80% to 1.515.

US Dollar Futures Index surged 0.08% at US$96.005.

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