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Markets

US stocks in doldrums despite solid job figures

Published Updated

NEW YORK: US stocks were mixed Thursday despite weekly unemployment claims in the United States falling to their lowest level in four years.

The Dow Jones Industrial Average shed 14.61 points (0.11 percent) to finish at 13,060.14.

The tech-rich Nasdaq rose 12.41 points (0.40 percent) at 3,080.50 and the broad-market S&P 500 gained 0.88 point (0.06 percent) to 1,398.08.

The Labor Department reported 357,000 initial jobless claims were filed in the week ending March 31, the lowest level since April 2008.

"The pressure comes as recession and fiscal concerns continue to fester in the eurozone," said analysts at Charles Schwab.

Goldman Sachs was down nearly two percent. Morgan Stanley, General Electric, General Motors were also notably down.

The Home Depot, McDonald's and Wal-Mart were among the risers.

Bond prices rose as yields fell. The yield on the 10-year US Treasury was down 0.07 point to 2.18 percent. The 30-year was down 0.06 point to 3.32 percent.

Copyright AFP (Agence France-Presse), 2012

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