Stocks Were Mixed after Jobless Claims

U.S. stocks were mixed in the early trading on Thursday, with the gains in tech shares, after a report showed unemployment insurance claims fell in the most recently reported weeks. The Dow Jones Industrial Average lately fell 126.22 points, or 0.48%, to 25,941.06. The S&P 500 was down 6.61 points, or 0.21%, to 3,163.33. The Nasdaq Composite advanced 30.71 points, or 0.29%, to 10,523.21.

Oil futures were trading on either side of unchanged on Thursday as commodity traders contended with rising cases of coronavirus in the U.S. and some other countries that may threaten to unsettle demand for crude. West Texas Intermediate crude for August slipped 9 cents, or 0.2%, at $40.81 a barrel. Brent oil for September added 6 cents, or 0.2%, at $43.47 a barrel.

Initial jobless claims dropped to 1.31 million in the seven days ended July 4 from a revised 1.41 million in the prior week, the Labor Department said Thursday. The prior week’s figure was revised lower to 1.41 million from the previously reported 1.43 million.