US Stocks Mixed: Meta Surges, Jobless Claims Fall

US stocks had a mixed day on Thursday, with the Dow Jones Industrial Average dipping slightly and the S&P 500 and Nasdaq Composite edging up. Meta, the parent company of Facebook, saw a significant boost in shares after reports of planned cuts to its metaverse division. The growing expectation of a Federal Reserve interest rate cut in December, fueled by weak economic data and comments from officials, is a major factor influencing market sentiment. Jobless claims fell to a three-year low, but corporate layoffs were at a three-year high. Investors are awaiting Fridays PCE reading on consumer prices. Earnings season is winding down, with Salesforce shares rising after beating expectations and Snowflake stock tumbling after missing expectations.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.