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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