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MarketWatch MarketPulseNov 25, 2020
Dow retreats from 30,000 milestone at open, but Nasdaq trades in record territory ahead of Thanksgiving holiday
U.S. equity benchmarks Wednesday morning saw muted action, a day after the Dow Jones Industrial Average breached 30,000 points for the first time, and as investors readied for pandemic-tinged Thanksgiving on Thursday when U.S. markets will be closed. The Dow Jones Industrial Average lost 90 points, or 0.3%, to trade at 29.960, the S&P 500 index slipped 0.1% to 3,631, while the Nasdaq Composite Index added 25 points, or 0.2%, at 12,061, touching closing record territory for the tech-laden index. Investors in the past week have focused on progress toward COVID-19 vaccines, and abating concerns around the presidential transition of President-elect Joe Biden. In economic reports, Labor Department employment figures showed jobless claims rose for a second consecutive week, a sign that resurging cases of COVID are taking a toll on the labor market. Meanwhile, durable goods orders rose by more than forecast. A number of other economic reports are set for today, pulled forward because of the Thanksgiving holiday on Thursday and Black Friday in the U.S. The Federal Reserve's meeting minutes from its meeting earlier this month will be released at 2 p.m.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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