Markets

Here's what happened to the stock market on Thursday

Traders work on the floor of the New York Stock Exchange (NYSE) on March 16, 2020 in New York City.
Spencer Platt | Getty Images

Dow Jones Industrial Average falls 39 points

The Dow slid 39.51 points, or 0.2%, to 26,080.10. The S&P 500 was flat to close at 3,115.34. The Nasdaq Composite rose 0.3% 9,943.05. Disappointing unemployment data and rising coronavirus cases dampened Wall Street sentiment on Thursday.

Jobless claims rise more than expected

The Labor Department said Thursday that an additional 1.5 million Americans filed for unemployment benefits last week. Economists polled by Dow Jones had forecast an increase of 1.3 million. Meanwhile, California reported its largest-ever daily increase of coronavirus cases. States such as Arizona and Texas have also seen increases in coronavirus cases recently.

Retailers struggle, Microsoft strong

Retailers such as Kohl's and Nordstrom declined, closing the session down about 1% each. Microsoft added 1% to help lift the Nasdaq. 

What happens next?

Wall Street will try to close out Friday with its fourth weekly gain in five while monitoring the latest news on the coronavirus.

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