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U.S. stocks end mixed amid economic data

NEW YORK
2017-01-06 05:42

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U.S. stocks closed mixed Thursday, with the Nasdaq Composite Index eclipsing previous closing record, as investors digested a batch of economic reports.

The Dow Jones Industrial Average fell 42.87 points, or 0.21 percent, to 19,899.29. The S&P 500 inched down 1.75 points, or 0.08 percent, to 2,269.00.

The Nasdaq Composite Index rose 10.93 points, or 0.20 percent, to 5,487.94. U.S. private sector employment increased by 153,000 jobs from November to December, missing market consensus of 172,000, according to the December ADP National Employment Report released Thursday.

The ADP figure is widely seen as a pre-indicator for the non-farm payrolls report due on Friday. In the week ending Dec. 31, the advance figure for seasonally adjusted initial jobless claims was 235,000, a decrease of 28,000 from the previous week's revised level.

Meanwhile, the Non-Manufacturing Index, which measures activity in the U.S. service sector, registered 57.2 percent in December, beating market consensus slightly, the Institute for Supply Management (ISM) said in its monthly survey Thursday.

Investors were also sifting through the Federal Reserve's minutes from its December meeting released Wednesday afternoon.

According to the minutes, most participants judged that a gradual pace of rate increases was likely to be appropriate to promote the Federal Open Market Committee's objectives of maximum employment and 2 percent inflation.

In corporate news, shares of Macy's plummeted 13.90 percent to 30.86 U.S. dollars apiece Thursday after the U.S. department-store chain l announced plans to close 68 stores and lay off 10,000 employees in 2017.

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