Cyclical stocks lifted the Dow off its low to close the session near the flatline, while better-than-expected labor market data helped support sentiment. The Dow was down 0.07%. The S&P 500 fell 0.36%. The Nasdaq slipped 1.03%.
Cyclical stocks lifted the Dow Jones Industrial Average off its low on Thursday to close the session near the flatline, while better-than-expected labor market data helped support sentiment.
Merck and Dow Inc were the two best performers in the 30-stock benchmark, both rising more than 2%. Consumer staples and utilities were the biggest gainers among 11 S&P 500 sectors, while consumer discretionary and tech weighed on the broader market, falling 1.2% and 0.9%, respectively. "With ADP knocking it out of the park, and jobless claims breaking that 400k barrier—a pandemic low—all eyes will be on the larger jobs picture tomorrow," said Mike Loewengart, a managing director at E-Trade. "With seemingly all systems go on the jobs front, the economy is flashing some very real signs that this isn't just a comeback—expansion mode could be on the horizon."
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