STOCKS GO NOWHERE: Here's what you need to know
Peter Nicholls / Reuters
The Dow and the S&P 500 closed slightly in the red, while the Nasdaq barely scraped into the green.
First up, the scoreboard:
- Dow: 19,895.93, -46.23, (-0.23%)
- S&P 500: 2,268.07, -2.59, (-0.11%)
- Nasdaq: 5,488.86, +11.68, (+0.22%)
- US 10-year yield: 2.359%, -0.093
- WTI Crude oil: $53.66, +0.40, +0.75%
1. The final jobs report of 2016 will be released on Friday. Wall Street is expecting nonfarm payrolls to increase by 170,000, the unemployment rate to tick up to 4.7%, and average hourly earnings to rise by 2.8% year-over-year.
2. Trump takes aim at Toyota. President-elect Donald Trump tweeted his displeasure at carmaker Toyota on Thursday, threatening to impose taxes on the Japanese company if it produced its Corolla model in Mexico.
3. Department store stocks got crushed after some flagship brick-and-mortar stores reported weak holiday sales. Around 11 a.m. ET, JC Penny was down by 6.3%, Nordstrom was down by 8.9%, Macy's was down by 14.4%, Kohl's was down by 18.9%, and Dillards was down by 10.2%.
4. Bitcoin had a wild day. The cryptocurrency fell by 20% earlier in the morning, and then somewhat rebounded from the lows. It was down by about 15% at $966.84 in the late afternoon.
5. A publishing powerhouse has reportedly approached Time Inc about a merger, and the stock popped. Meredith Corp. has contacted Time Inc. about a potential merger, according to Alex Sherman at Bloomberg. Times shares jumped by over 11% immediately after the news, but have settled up about 3% for the day.
6. Saudi Arabia is following through on its promise to cut oil production, according to the Wall Street Journal. WSJ reporter Georgi Kantchev tweeted on Thursday that the kingdom has cut oil output by at least 486,000 barrels per day to 10.058 million barrels per day, citing a "source."
ADDITIONALLY:
There's a warning sign that we're nearing a "retail recession."
JPMorgan's complete guide to everything happening in the markets.
Former Goldman Sachs CEO and New Jersey Governor Jon Corzine agrees to pay a $5 million fine.
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- 2 states where home prices are falling because there are too many houses and not enough buyers
- Election Commission issues notification for sixth phase of Lok Sabha polls
- 6 Coffee recipes you should try this summer
- "To sit and talk in the box...!" Kohli's message to critics as RCB wrecks GT in IPL Match 45
- 7 Nutritious and flavourful tiffin ideas to pack for school
- India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market