US close: Markets mixed after record-breaking Dow Jones and low jobless claims
US stocks were mixed on Tuesday after the Dow Jones Industrials reached record highs on Monday night and jobless claims came in lower than expected.
Chevron Corp.
$155.41
11:10 18/03/24
Dow Jones I.A.
38,790.43
04:30 15/10/20
Early in the day on Tuesday the Dow Jones Industrial Average rose 0.03% to 18,030.21 while the Nasdaq went up 0.09% to 4,283.10 and S&P 500 fell 0.01% to 2,081.88.
US Initial Jobless Claims missed consensus expectations of 290,000 by 10,000 week-on-week for 20 December.
Barclays Research noted: “Initial claims have continued to move lower following a period of seasonally induced volatility in recent weeks; we view the uptick in continuing claims as a reflection of the same calendar effects. Labor market separations remain at very low levels, and we look for continuing improvement as seasonal effects filter through the data in the coming weeks.”
“Factors in our forecast include initial and continuing claims, both of which improved in the December survey week relative to November, and the employment diffusion index, which remains at recovery-level highs.”
Crude futures were receding early in the day as WTI crude futures opened around 2.366% in the red, or $55.80 barrel, and Brent futures opened at a loss of around 2.560%, or $60.15 a barrel.
“Oil prices are unlikely to rally straight back to $100 per barrel any time soon but equally it seems the 2008 low at $35 is not justified. Oil will sooner or later find a new equilibrium at lower prices, the base of which could be $60 or perhaps $50 per barrel,” said Lawler.
Over on COMEX, gold futures were dropping 0.24% to $1,175.20 while the dollar was falling against the pound, the yen and the euro.
The yield on a benchmark US 10-year Treasury was flat at 2.26%.
Meanwhile, in the corporate world Chevron was decreasing by 0.42% to $113.47 as futures slid.
S&P 500 - Risers
Celgene Corp. (CELG) $109.60 +3.28%
Newmont Mining Corp. (NEM) $18.57 +2.94%
AbbVie Inc (ABBV) $66.21 +2.89%
Ameren Corp. (AEE) $46.84 +2.65%
AGL Resources Inc. (GAS) $54.01 +2.45%
SCANA Corp. (SCG) $61.32 +2.37%
Northeast Utilities (NU) $55.02 +2.36%
NiSource Inc. (NI) $43.08 +2.33%
CMS Energy Corp. (CMS) $35.69 +2.32%
Xcel Energy Inc. (XEL) $36.23 +2.26%
S&P 500 - Fallers
GameStop Corp. (GME) $33.39 -3.58%
Noble Corporation plc (NE) $17.05 -3.18%
Peabody Energy Corp. (BTU) $7.71 -3.08%
Ensco Plc. (ESV) $30.39 -2.85%
Eog Resources Inc. (EOG) $94.05 -2.45%
CME Group Inc. (CME) $90.58 -2.31%
Range Resources Corp. (RRC) $55.73 -2.23%
Chesapeake Energy Corp. (CHK) $19.84 -2.22%
Tyson Foods Inc. (TSN) $40.33 -2.18%
Denbury Resources Inc. (DNR) $8.15 -2.16%
Dow Jones I.A - Risers
Boeing Co. (BA) $131.24 +0.93%
Visa Inc. (V) $267.63 +0.89%
Merck & Co. Inc. (MRK) $57.46 +0.44%
Nike Inc. (NKE) $96.29 +0.33%
Johnson & Johnson (JNJ) $104.59 +0.30%
American Express Co. (AXP) $94.08 +0.28%
Caterpillar Inc. (CAT) $93.72 +0.24%
Goldman Sachs Group Inc. (GS) $195.89 +0.20%
Cisco Systems Inc. (CSCO) $28.30 +0.18%
3M Co. (MMM) $166.96 +0.05%
Dow Jones I.A - Fallers
Exxon Mobil Corp. (XOM) $93.78 -0.86%
Microsoft Corp. (MSFT) $48.14 -0.64%
E.I. du Pont de Nemours and Co. (DD) $74.79 -0.53%
Chevron Corp. (CVX) $113.47 -0.42%
McDonald's Corp. (MCD) $93.83 -0.41%
Walt Disney Co. (DIS) $94.42 -0.29%
Wal-Mart Stores Inc. (WMT) $86.43 -0.27%
International Business Machines Corp. (IBM) $161.82 -0.26%
United Technologies Corp. (UTX) $116.91 -0.26%
Travelers Company Inc. (TRV) $106.72 -0.22%
Nasdaq 100 - Risers
Celgene Corp. (CELG) $109.60 +3.28%
Gilead Sciences Inc. (GILD) $91.29 +2.06%
Amgen Inc. (AMGN) $160.67 +2.00%
Alexion Pharmaceuticals Inc. (ALXN) $181.96 +1.73%
Netflix Inc. (NFLX) $342.10 +1.69%
Regeneron Pharmaceuticals Inc. (REGN) $400.12 +1.54%
Biogen Idec Inc. (BIIB) $340.89 +1.53%
Illumina Inc. (ILMN) $186.22 +1.48%
Yahoo! Inc. (YHOO) $50.65 +1.26%
Vertex Pharmaceuticals Inc. (VRTX) $115.15 +1.23%
Nasdaq 100 - Fallers
Vimpelcom Ltd Ads (VIP) $4.07 -5.89%
Amazon.Com Inc. (AMZN) $303.03 -1.06%
Baidu Inc. (BIDU) $230.98 -0.93%
Tractor Supply Company (TSCO) $77.80 -0.84%
KLA-Tencor Corp. (KLAC) $72.02 -0.84%
Whole Foods Market Inc. (WFM) $48.67 -0.82%
Paychex Inc. (PAYX) $47.06 -0.65%
Ross Stores Inc. (ROST) $92.72 -0.64%
Microsoft Corp. (MSFT) $48.14 -0.64%
Applied Materials Inc. (AMAT) $25.25 -0.59%