S&P 500 stalls in economic data offset, ahead of Fed chair's speech
Updated : August 23, 2019 06:22 AM IST
Data from the US Labor Department showed initial claims for state unemployment benefits dropped more than expected last week, suggesting the labour market was holding firm despite a manufacturing slowdown and concerns the economy is on a path toward recession.
The Dow Jones Industrial Average rose 49.51 points, or 0.19 percent, to 26,252.24, the S&P 500 lost 1.48 points, or 0.05 percent, to 2,922.95 and the Nasdaq Composite dropped 28.82 points, or 0.36 percent, to 7,991.39.
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