The U.S. stock market experienced a mixed day on Thursday, with the Dow Jones Industrial Average closing down over 200 points. The S&P 500, on the other hand, continued its losing streak, recording losses for the third consecutive session. Despite the downward movement in the major indexes, the CNN Money Fear and Greed Index remained in the “Neutral” zone, indicating a balanced market sentiment. The index, which measures investor confidence, currently sits at 46.8, down slightly from its previous reading of 49.7.
Several individual stocks performed notably well. Tesla, Inc. shares rose by 4.9% after the company announced plans to expand its full self-driving (FSD) driver assistance software to Europe and China in the first quarter of 2025. G-III Apparel Group, Ltd. saw its shares jump 22% following the company’s better-than-expected second-quarter adjusted earnings per share (EPS) report and a strong FY25 guidance.
Economic data released on Thursday painted a mixed picture for the labor market. Private businesses added 99,000 jobs to their payrolls in August, down from the revised 111,000 gain in July and below market expectations of 145,000. However, initial jobless claims decreased by 5,000 to 227,000 in the week ending August 31, slightly beating market estimates of 230,000.
Across different sectors, most stocks on the S&P 500 closed lower, with healthcare, industrials, and financials experiencing the most significant losses. However, communication services and consumer discretionary stocks bucked the overall trend, finishing the session in positive territory.
Investors are now looking ahead to earnings releases from companies such as ABM Industries Incorporated, The Big Lots, Inc., and Brady Corporation.
The Dow Jones closed at 40,755.75, down approximately 219 points. The S&P 500 fell by 0.30% to 5,503.41, while the Nasdaq Composite gained 0.25% to 17,127.66.
