Here's what happened to the stock market on Thursday

The "Fearless Girl" statue stands in front of the New York Stock Exchange (NYSE) at Wall Street on June 29, 2020 in New York City.
Angela Weiss | AFP | Getty Images

Dow Jones Industrial Average falls 80 points

The Dow slid 80.12 points, or 0.3%, to close at 27,896.72. The S&P 500 dropped 0.2% to 3,373.43. The Nasdaq Composite added 0.3% to end the day at 11,042.50. The S&P 500 failed to break above its all-time high once again despite stronger-than-expected unemployment data.

Initial jobless claims below 1 million

Initial U.S. weekly jobless claims fell to 963,000, the Labor Department said. That's below a Dow Jones estimate of 1.1 million. It was also the first time since March that jobless claims came in below 1 million. Thursday's data was the latest indication of an improving labor market. To be sure, investors continued to keep a watchful eye on Washington, where the nation's top lawmakers continue to haggle over a new coronavirus-relief package for American households and businesses.

Cisco and airlines drop

Shares of Cisco Systems dropped 11% after the tech company issued weaker-than-expected earnings guidance for the current quarter. United Airlines, Delta and American all fell more than 1%.

What happens next?

Retail sales and consumer sentiment are among the economic numbers set for release on Friday.

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