NEW YORK — U.S. stocks drifted to a mixed close as Wall Street’s momentum cooled following its latest record-setting day. The S&P 500 ended just barely lower Thursday, a day after setting an all-time high for the 25th time this year. The Dow Jones Industrial Average rose 0.2%, and the Nasdaq composite dipped 0.1% after setting its own record. Several retailers fell after detailing more struggles for lower-income customers.
Another retailer, Five Below, gave more discouraging comments about how its customers are doing. Its profit and revenue last quarter fell short of analysts’ expectations, and CEO Joel Anderson said struggles for the company’s core lower-income customers dragged on results, even as it saw strong growth from its higher-income customers. Five Below’s stock fell 11.8%.
More U.S. workers applied for unemployment benefits last week than the week before, when economists were expecting to see a slight decline. The numbers are still low compared with history, but they could suggest some slowing in the job market. After the economic reports, Treasury yields were holding relatively steady. The yield on the 10-year Treasury rose to 4.29% from 4.28% late Wednesday.
Robinhood Markets rose 7.5% after saying it agreed to buy Bitstamp, a cryptocurrency exchange. Robinhood said the deal, which still needs regulatory approvals, will bring in customers from around the world, including the European Union and Asia.
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Stock market today: Wall Street opens lower, threatening to end a 4-day winning streakNEW YORK (AP) — Stocks are opening lower on Wall Street and threatening to end a four-day winning streak for the S&P 500. The benchmark index was down 0.4% early Wednesday. The Dow Jones Industrial Average slipped 0.
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Stock market today: Indexes drift to a mixed close as Wall Street remains in a lullNEW YORK (AP) — Stock drifted to a mixed close as Wall Street remains in a lull. The S&P 500 closed little changed Wednesday, after a big three-day winning streak gave way to a tiny gain the prior day. The Dow Jones Industrial Average rose 0.
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Stock market today: Asian shares mixed after Wall Street's lull stretches to a 2nd dayHONG KONG (AP) — Asian shares were mixed on Thursday after Wall Street’s lull stretched into a second day, with Chinese benchmarks rising after China...
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Stock market today: Wall Street is off to a mixed startNEW YORK (AP) — Stocks are drifting again on Wall Street. The S&P 500 was little changed early Thursday, the Dow Jones Industrial Average slipped 0.1%, and the Nasdaq composite was up 0.1%.
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Stock market today: Wall Street rises to pull S&P 500 back within 1% of its recordNEW YORK (AP) — U.S. stocks rose to pull the S&P 500 back within 1% of its record following a rough April. The index climbed 0.5% Thursday. The Dow Jones Industrial Average rose 0.8%, and the Nasdaq composite gained 0.3%.
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