US stocks ended mixed as Wall Street cheered upbeat jobs data, but the gains were capped by a steep sell-off in Tesla shares…reports Asian Lite News
The Dow Jones Industrial Average climbed 166.50 points, or 0.64 per cent, to 26,384.63. The S&P 500 increased 5.99 points, or 0.21 per cent, to 2,879.39.
The Nasdaq Composite Index decreased 3.77 points, or 0.05 per cent, to 7,891.78.
Seven of the 11 primary S&P 500 sectors closed higher, with materials up 1.01 per cent, the best-performing group. Technology and utilities, however, underperformed. The S&P 500 notched a six-day winning streak.
Boeing shares gained 2.89 per cent at the close, contributing to the 30-stock index.
Tesla shares slumped 8.23 per cent, leading the laggards in the Nasdaq. The company revealed late Wednesday that it delivered less-than-expected vehicles in the first quarter.
On the economic front, US initial jobless claims, a rough measure of layoffs, registered 202,000 in the week ending March 30, a decrease of 10,000 from the previous week’s revised level, the Department of Labor said on Thursday. Economists polled by MarketWatch had forecast a 216,000 reading.
Investors also paid close attention to the latest round of US-China trade talks.