Stocks closed slightly higher Thursday on Wall Street in mixed trading after several discouraging reports on the economy slowed stocks’ roll this week, per the AP. The US stock market will be shut in observance of Good Friday.
- The S&P 500 rose 14 points to 4,105. The benchmark index slipped 0.1% for the week, its first down week in four, notes CNBC.
- The Dow ticked up 2 points to 33,485.
- The Nasdaq rose 91 points to 12,087.
A report on Thursday morning showed that fewer US workers filed for unemployment benefits last week, though the number was still higher than expected. The government changed how it tracks the numbers, which could cause some swings, and the number of workers getting continuing claims for benefits rose to the highest level since December 2021. Thursday’s data followed a string of reports on the economy earlier in the week that were weaker than expected. That included everything from the number of job openings across the country to the strength of the US manufacturing and services industries.
On Wall Street, Costco fell 2.7% after the warehouse membership retailer said an important measure of its sales fell in March as consumers pulled back spending on big-ticket items. Levi Strauss fell 15.9% despite reporting stronger profit and revenue for the latest quarter than expected. Analysts said some of the sales may have been the result of discounting, pointing to squeezed profit margins.
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