(NEW YORK) — A less-than-stellar weekly unemployment report didn’t do much to help the markets Thursday.
The Dow gained 19 points to close at 13,597, while the Nasdaq lost seven points and the S&P gave up a fraction.
U.S. jobless claims were higher than expected, causing stocks to fall in early trading Thursday. The Labor Department says first-time jobless claims dropped by 3,000 last week to 382,000. But, the agency says, hiring is still very slow.
The Federal Reserve says Americans’ wealth contracted by about half a percent from April to June as a drop in stock prices more than offset a gain in home values. Since June, stocks have surged about seven percent, and that’s brought Americans closer to regaining all the wealth they’d lost in the recession.
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Sam Turner, Deseret News
Jethro Mullen Ivana Kottasova and Patrick Gillespie, CNN