Dow Takes Breather from Record Highs
November 25,2020 10:19 am EST
Stocks fell slightly on Wednesday, taking a breather after the Dow Jones Industrial Average topped a significant milestone.
The 30-stock index shed 177.69 points to open the week''s last full session at 29,868.55.
The S&P 500 skidded 15.07 points to 3,620.34.
The NASDAQ erased 7.47 points to 12,029.32.
Trading volumes are expected to be lighter than usual ahead of the Thanksgiving holiday.
JPMorgan Chase and IBM led the Dow lower, falling more than 1% each. Energy and financials each fell at least 1% and were the worst-performing sectors in the S&P 500.
On the macroeconomic front, U.S. weekly jobless claims totaled 778,000 for the week ended Nov. 21, ahead of the 733,000 expectation from economists surveyed by Dow Jones and up from 742,000 the previous week.
U.S. markets will be closed for the Thanksgiving holiday on Thursday and will have a short session on Friday.
Prices for the 10-Year Treasury were up, lowering yields to 0.86% from at Tuesday''s 0.88%. Treasury prices and yields move in opposite directions.
Oil prices strengthened 38 cents to $45.29 U.S. a barrel.
Gold prices climbed $5.60 to $1,810.20 U.S.