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S&P's 4-Day Rally Ends

Though the Dow inched up
By Newser Editors and Wire Services
Posted Jun 4, 2020 3:22 PM CDT

(Newser) – Stocks ended mostly lower on Wall Street after a day of wavering, ending a four-day winning streak for the S&P 500, its longest in nearly four months. The benchmark index slipped 0.3% Thursday. It’s still about 8% below its record set in February after being down nearly 34% in late March, per the AP. For the day, the S&P fell 10 points to 3,112; the Dow ticked up 11 points to 26,281; and the Nasdaq fell 67 points to 9,615.

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Economic news continued to roll in. A report showed that the number of US workers filing for unemployment benefits eased for a ninth straight week, roughly in line with the market’s expectations. But economists saw pockets of disappointment after the total number of people getting benefits rose slightly. The next big piece of economic data will land early Friday, when the Labor Department releases its monthly jobs report for May. It's expected to show that employers slashed 8.5 million jobs last month and that the unemployment rate jumped from 14.7% to 19.8%.

(Read more stock market stories.)

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