Home Markets Stock Market Today: Stocks Weeble, Wobble, But Finish Mostly Flat

Stock Market Today: Stocks Weeble, Wobble, But Finish Mostly Flat

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Stocks struggled to find direction despite mostly positive vibes from Thursday’s economic data dump.

New unemployment-benefits filings for the week ended Sept. 11 rose by 20,000 claims to 332,000 – slightly higher than expected, but still near the pandemic-era lows. Moreover, the four-week moving average for claims declined to 335,750, which is the lowest such figure since March 2020.

More clearly positive were August headline retail sales, which rose 0.7% month-over-month, surprising economists who on average had forecast a 0.7% decline.

“American shoppers bounced back nicely in August even as another wave of the virus sent confidence plunging, suggesting decent underlying support from growing employment and excess savings,” says Sal Guatieri, senior economist for BMO Capital Markets. “Strength in general merchandise (3.5%) and furniture (3.7%) was tempered by virtually no change in clothing and food services.”

Another upside surprise came…

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