Business Headlines

U.S. Stocks Little Changed After Jobs Data; Utility Shares Gain

published Dec 29th 2016, 3:19 pm, by Oliver Renick

(Bloomberg) —U.S. stocks ended the session little changed as filings for U.S. unemployment benefits fell for a third week in the last four and a rally in utility shares offset losses in financial companies.

The S&P 500 Index was little changed at 2,249.26 at 4 p.m. in New York after declining the most since October on Wednesday. The Dow Jones Industrial Average slipped 13.9 points to 19,819.78, falling further from the 20,000 milestone it’s hovered near this month.

Dividend-payers continue to lead market in the past five days Utility shares gain 1.3%; group is up 5.2% this month Real estate stocks add 0.9% Financial and tech stocks lag, down 0.7% and less than 0.1%, respectively Jobless claims declined by 10,000 to 265,000 in the week ended Dec. 24 from a six-month high in the prior period, Labor Department data showed Thursday The VIX rose for a fifth day, jumping 3.2% in its longest streak of increases since early November The S&P 500 is on track for the first yearly advance since 2014, up 10% for the year EARNINGS: no earnings on calendarFor related equity market news:

Eleventh Hour Stock and Bond Reversals Fire Up Rebalancing Talk European Equity Gains Lose Momentum With 2016 Drawing to a Close MRA Proposes Another Strategy to Put on SPY ‘Long Skew’ Trade Hedging Is Cheap for Small Caps Heading Into the New Year: Chart ETFs Take Market Share as More Investors Shift From Funds: Chart

The Author

Walt Alexander

Walt Alexander

Walt Alexander is the editor-in-chief of Men of Value. Learn more about his vision for the online magazine for American men with the American values—faith, family & freedom—in his Welcome from the Editor.

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