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11 Feb 2021 | 22:34

US close: Stocks finish mixed as investors mull jobless claims

(Sharecast News) - Wall Street stocks closed in a mixed state on Thursday, as jobless claims last week fell by less than anticipated.

At the close, the Dow Jones Industrial Average was down 0.02% at 31,430.70, while the S&P 500 added 0.17% to 3,916.38 and the Nasdaq Composite added 0.38% to 14,025.77.

The Dow closed 7.1 points lower on Thursday, reversing course from the gains it recorded earlier in the day and in the previous session.

US jobless claims were in focus, with the Department of Labor reporting that the number of initial unemployment claims fell by 19,000 over the week ended 6 February, to 793,000.

Economists had penciled in a reading of 765,000.

The preliminary estimate for the week before, meanwhile, was revised upwards by 33,000 to 812,000, while the four-week moving average of claims dropped by 33,500 to 823,000.

Secondary unemployment claims, those which are not being filed for the first time and referencing the previous week, fell by 145,000 to 4.5 million.

Also in focus were comments from Federal Reserve chairman Jerome Powell who warned overnight that the US economy still faced many challenges in the labour market.

He said monetary policy would need to stay "patiently accommodative" as a result, while ongoing stimulus talks in Washington were still drawing an amount of investors' attention.

Corporate earnings were again in focus on Thursday, with Molson Coors falling 9.2% after it reinstated its full-year guidance, despite reporting a 7.7% decrease in net sales revenues and a $1.4bn net loss in the fourth quarter.

Kraft Heinz added 4.87% after it outperformed market expectations and announced the sale of its Planters peanuts business to Hormel Foods for $3.35bn in cash.

PepsiCo was 1.98% weaker even after it posted a quarterly earnings beat thanks to 8.8% revenue growth in the period, while cereal maker Kellogg was in the red by 1.89% after posting a profit and sales miss for the fourth quarter.

Dow Jones - Risers

Intel Corp. (INTC) $60.66 3.06% Visa Inc. (V) $210.66 2.04% Salesforce.Com Inc. (CRM) $241.24 1.91% Coca-Cola Co. (KO) $50.30 1.41% Nike Inc. (NKE) $143.54 0.76% Cisco Systems Inc. (CSCO) $47.58 0.72% Microsoft Corp. (MSFT) $244.49 0.69% Walt Disney Co. (DIS) $190.91 0.67% Caterpillar Inc. (CAT) $198.35 0.32% Travelers Company Inc. (TRV) $146.34 0.28%

Dow Jones - Fallers

Walgreens Boots Alliance, Inc. (WBA) $50.12 -2.89% 3M Co. (MMM) $177.21 -2.14% Amgen Inc. (AMGN) $235.04 -1.43% International Business Machines Corporation (CDI) (IBM) $120.91 -1.09% Verizon Communications Inc. (VZ) $54.60 -0.66% Goldman Sachs Group Inc. (GS) $302.32 -0.64% Boeing Co. (BA) $210.66 -0.59% Home Depot Inc. (HD) $277.06 -0.58% Chevron Corp. (CVX) $92.02 -0.54% Johnson & Johnson (JNJ) $166.06 -0.45%

S&P 500 - Risers

KLA-Tencor Corp. (KLAC) $324.48 9.03% Lam Research Corp. (LRCX) $572.21 7.46% Applied Materials Inc. (AMAT) $113.00 6.72% Western Digital Corp. (WDC) $63.96 5.90% Coty Inc. Class A (COTY) $6.95 5.78% Micron Technology Inc. (MU) $86.48 5.02% Kraft Heinz Co. (KHC) $35.54 4.87% Cadence Design Systems Inc. (CDNS) $143.97 4.43% Everest Re Group Ltd. (RE) $244.95 4.37% Maxim Integrated Products Inc. (MXIM) $94.94 3.98%

S&P 500 - Fallers

Molson Coors Beverage Co. Class B (TAP) $44.50 -9.15% CenturyLink Inc. (LUMN) $11.50 -7.85% Tyson Foods Inc. (TSN) $65.34 -5.69% AutoZone Inc. (AZO) $1,150.42 -5.13% O'Reilly Automotive Inc. (ORLY) $433.16 -5.11% Advance Auto Parts (AAP) $154.46 -4.57% Equinix, Inc. (EQIX) $717.82 -4.42% Helmerich & Payne Inc. (HP) $27.01 -4.22% Halliburton Co. (HAL) $19.43 -4.10% Cerner Corp. (CERN) $75.90 -3.92%

Nasdaq 100 - Risers

KLA-Tencor Corp. (KLAC) $324.48 9.03% Lam Research Corp. (LRCX) $572.21 7.46% Applied Materials Inc. (AMAT) $113.00 6.72% Western Digital Corp. (WDC) $63.96 5.90% Micron Technology Inc. (MU) $86.48 5.02% Kraft Heinz Co. (KHC) $35.54 4.87% Cadence Design Systems Inc. (CDNS) $143.97 4.43% Asml Holdings N.V. (ASML) $591.51 4.34% Maxim Integrated Products Inc. (MXIM) $94.94 3.98% Microchip Technology Inc. (MCHP) $157.63 3.95%

Nasdaq 100 - Fallers

O'Reilly Automotive Inc. (ORLY) $433.16 -5.11% Cerner Corp. (CERN) $75.90 -3.92% Walgreens Boots Alliance, Inc. (WBA) $50.12 -2.89% American Airlines Group (AAL) $16.99 -2.41% Cintas Corp. (CTAS) $341.22 -2.23% Dish Network Corp. (DISH) $31.69 -1.86% Hasbro Inc (HAS) $90.65 -1.78% NortonLifeLock Inc. (NLOK) $21.28 -1.69% Wynn Resorts Ltd. (WYNN) $114.58 -1.60% Henry Schein Inc. (HSIC) $69.62 -1.58%
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