The S&P 500 fell marginally from a record high in a late-day sell-off on Thursday after a report said Pfizer is dialing back its coronavirus vaccine rollout plan for this year due to supply chain issues.
 | THU, DEC 03, 2020 | | | | DOW | | NAME | LAST | CHG | %CHG | | AAPL | 122.94 | -0.14 | -0.11% | | INTC | 50.99 | +1.09 | +2.18% | | BA | 237.20 | +13.35 | +5.96% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | AAL | 16.09 | +1.23 | +8.28% | | CCL | 22.88 | +1.72 | +8.13% | | GE | 10.60 | +0.17 | +1.63% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AAPL | 122.94 | -0.14 | -0.11% | | INTC | 50.99 | +1.09 | +2.18% | | TSLA | 593.38 | +24.56 | +4.32% | |
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New weekly jobless claims reached a pandemic-era low, raising hope that the labor market recovery could resume amid a brutal spike in coronavirus cases. First-time claims for unemployment benefits totaled 712,000 last week, compared with 787,000 a week earlier and the Dow Jones estimate of 780,000, the Labor Department reported Thursday.  While claims are off their peak of 6.9 million in late March, they remain well above the pre-pandemic record. The rebound in the jobs market is not only challenged by the worsening crisis that has caused new lockdown restrictions, but the absence of additional fiscal stimulus could put more pressure on businesses across the country.
"Job layoffs showed modest improvement, but make no mistake, there are storm clouds out on the horizon ready to roll in if Congress doesn't act to renew the unemployment benefits for gig workers and for extended benefits that expire at the end of the year," said Chris Rupkey, chief financial economist at MUFG.
The claims data comes a day before the closely watched nonfarm payrolls report for November. The U.S. economy is expected to have added 440,000 jobs, a slowdown from 638,000 in October, according to Dow Jones. |
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