here’s-what-happened-to-the-stock-market-on-thursday

Here’s what happened to the stock market on Thursday

Traders work during the opening bell at the New York Stock Exchange (NYSE) on March 16, 2020 at Wall Street in New York City.

Johannes Eisele | AFP | Getty Images

Dow Jones Industrial Average rises 46 points

Jobless claims back above 1 million

U.S. weekly jobless claims totaled 1.106 million last week, the Labor Department reported. Economists polled by Dow Jones had expected 923,000 first-time applicants during the week ended Aug. 15. In the week prior, the tally had dropped below 1 million for the first time since mid-March. The jump in unemployment claims came as lawmakers struggled to move forward on a new coronavirus stimulus bill. Recently, an additional unemployment benefit for those impacted by the pandemic expired.

Tech leads market

Shares of Facebook rose 2.4% and Apple advanced 2.2% as Big Tech was the best-performing group in the market on Thursday. Amazon climbed 1% and Microsoft closed 2.3% higher.

What happens next?

Existing home sales data are set for release Friday.

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