The Dow advanced 11.93 points, or 0.05% to close at 26,281.82. The S&P 500 dipped 0.34% to 3,112.35. The Nasdaq Composite fell 0.69% to 9,615.81. The Nasdaq-100 index, which tracks the composite's 100-largest nonfinancial companies, dropped 0.77% after hitting an intraday record. Stocks fell for the first time this month after the release of disappointing unemployment data.
Jobless claims data worse than expected
The Labor Department said 1.877 million Americans filed for unemployment benefits last week, topping a Dow Jones estimate of 1.775 million. Continuing jobless claims rose sharply, nearly reaching 21.5 million. The data was released a day ahead of the department's monthly jobs report.
Big Tech falls, airlines surge
Shares of Facebook, Amazon and Netflix all dropped at least 0.7%. Alphabet and Apple closed lower by 1.73% and 0.86%, respectively. American Airlines, meanwhile, rallied 41.25% while Delta gained 13.73%. United Airlines closed 16.20% higher.
What happens next?
The monthly nonfarm payrolls report is set for release Friday morning.
Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.
Source: cnbc.com
