Yahoo Finance US stocks rise as S&P 500 goes for new all-time high
US stocks were slightly higher on Thursday as major indexes continued to trade largely flat.
The S&P 500 is nearing an all-time closing high.
Stocks are closing in on big yearly gains, with the Dow up 13%, the S&P 500 up 24%, and the Nasdaq up 44%.
US stocks were higher on Thursday as traders tried to drum up a Santa Claus rally in the holiday-shortened week.
The S&P 500 remains stuck just below its January 3, 2022, record close of 4,796.56. Still, stocks are closing in on big yearly gains, with the Dow Jones Industrial Average up 13%, the S&P 500 up 24%, and the Nasdaq up 44%.
And while the so-called Santa Claus rally has been relatively muted so far this season, stocks are poised for weekly gains, on pace for a ninth consecutive advance.
Data released Thursday showed weekly jobless claims rose by 12,000 to 218,000, topping forecasts and marking the second straight increase, though unemployment filings during the holidays can be choppy.
Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Thursday:
S&P 500: 4,790.57, up 0.19%
Dow Jones Industrial Average: 37,699.73, up 0.11% (+40.70 points)
Nasdaq Composite: 15,143.02, up 0.29%
Here's what else happened today:
Russia and Iran stepped up their de-dollarization drive with a pact to shun the greenback in bilateral trade.
Elite traders like Paul Tudor Jones and Stanley Druckenmiller excel at taking risks, calling the shots, and spotting paradigm shifts, BlackRock's Rick Rieder said.
China could take steps to prop up its economy, but that would leave it vulnerable to a "Lehman moment," an economist said.
In commodities, bonds, and crypto:
West Texas Intermediate crude oil fell 1.2% to $73.15 a barrel. Brent crude, the international benchmark, eased 1.2% to $78.70 a barrel.
Gold ticked down 0.25% to $2,087.80 per ounce.
The 10-year Treasury yield rose 2.7 basis points to 3.8.16%.
Bitcoin slipped 1.25% to $42,871.
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