Here’s what happened to the stock market on Thursday

The Dow slid 80.12 points, or 0.3%, to close at 27,896.72. The S&P 500 dropped 0.2% to 3,373.43. The Nasdaq Composite added 0.3% to end the day at 11,042.50. The S&P 500 failed to break above its all-time high once again despite stronger-than-expected unemployment data.

Initial U.S. weekly jobless claims fell to 963,000, the Labor Department said. That’s below a Dow Jones estimate of 1.1 million. It was also the first time since March that jobless claims came in below 1 million. Thursday’s data was the latest indication of an improving labor market. To be sure, investors continued to keep a watchful eye on Washington, where the nation’s top lawmakers continue to haggle over a new coronavirus-relief package for American households and businesses.

Shares of Cisco Systems dropped 11% after the tech company issued weaker-than-expected earnings guidance for the current quarter. United Airlines, Delta and American all fell more than 1%.

Retail sales and consumer sentiment are among the economic numbers set for release on Friday.

SOURCE : https://www.cnbc.com/2020/08/13/what-happened-to-the-stock-market-on-thursday-sp-500-falls-short-of-record-once-again.html