The Dow closed lower Thursday ahead of a seasonally weak trading period.
 | THU, SEP 16, 2021 | | | | DOW | | NAME | LAST | CHG | %CHG | | AAPL | 148.79 | -0.24 | -0.16% | | CSCO | 57.33 | -0.23 | -0.40% | | MSFT | 305.22 | +0.40 | +0.13% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | F | 13.40 | +0.18 | +1.36% | | AAPL | 148.79 | -0.24 | -0.16% | | BAC | 40.45 | +0.31 | +0.77% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AAPL | 148.79 | -0.24 | -0.16% | | AMD | 106.22 | +0.62 | +0.59% | | CSCO | 57.33 | -0.23 | -0.40% | |
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The Dow Jones Industrial Average and the S&P 500 closed lower Thursday, while the Nasdaq Composite ended the day slightly higher. Investors digested economic data released Thursday. August retail sales surprised markets by increasing from the month prior, while last week's initial jobless claims came in higher than expected. At its worst period in the session, the Dow dropped over 270 points. From there, the blue-chip index curtailed its losses. "I think we're going to see a little bit of 'two steps forward, one step back' in the markets over the next few weeks," said Victoria Fernandez, chief market strategist at Crossmark Global Investments.  Friday marks a key date for the market as it enters a historically tumultuous period on the calendar. September has been the weakest month for stocks, and the final third of the month usually sees the worst of it. The S&P 500 typically peaks around Sept. 17 before selling off again into the end of the month, according to Bespoke Investment Group. Friday also coincides with the expiration of stock options, index options, stock futures and index futures — a quarterly event known as "quadruple witching" or "triple witching." The expiration date can cause high trading volume, and history shows that a dip for stocks ahead of the event signals more weakness the following week, according to the Stock Trader's Almanac. |
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