Stocks close mostly flat after roller coaster day of trading

7 months ago 32
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June 18 (UPI) -- U.S. stocks rode a roller coaster in early trading on Wall Street Thursday, first falling and then rising before ending the day flat.

The Dow Jones Industrial Average lost more than 100 points after the opening bell, before bouncing back to a gain of nearly 150. By 12:30 p.m. EDT, the blue chip index was down into negative territory again, about 70 points, before ending the day down 39.51 points or 0.15 percent.

The Dow ended a three-day winning streak Wednesday and closed with a 170-point loss.

The S&P 500 ended the day mostly flat, gaining just 0.059 percent, while the Nasdaq Composite closed up slightly, rising 0.33 percent.

The Labor Department reported Thursday that 1.5 million American workers filed new unemployment claims last week, a figure slightly higher than most experts predicted. The unemployment rate, however, remained unchanged at 14.1 percent.

Tech stocks helped to drive the Nasdaq to a fifth consecutive day of gains as Amazon stock gained 0.49 percent, Netflix increased 0.47 percent and Facebook dropped 0.17 percent.

Continued declines in stocks that would benefit from lifting restrictions to prevent the spread of COVID-19 limited gains for the S&P and Dow, as American Airlines stock slid 2.89 percent and Carnival cruise lines fell 1.41 percent.

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