NEW YORK (AFP) - The Nasdaq finished at another record on Thursday (July 9), but the Dow and S&P 500 retreated as markets weigh the economic toll from the spike in coronavirus cases in many US states.. Read more at straitstimes.com.
NEW YORK - The Nasdaq finished at another record on Thursday , but the Dow and S&P 500 retreated as markets weigh the economic toll from the spike in coronavirus cases in many US states.
The Dow Jones Industrial Average dropped 1.4 per cent to end the day at 25,706.09, while the broad-based S&P 500 slid 0.6 per cent to 3,152.05. Investors have largely shrugged off the rising number of Covid-19 cases in many US states, although there have been intermittent waves of selling in recent weeks.
Although Trump's financial records may remain private until after the November election, the ruling marks another strike against the president as the US contends with massive job losses due to the pandemic.Initial claims for jobless benefits slowed to 1.3 million last week, an exceptionally high number historically speaking, but down 99,000 from the prior week, showing a steady decline as the world's largest economy gradually reopens and workers are recalled to their jobs.
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