Dow pulls back more than 150 points after reaching 30,000 milestone; European markets close little changed as rally stalls; BELEX15 down 0.51%
The Dow Jones Industrial Average fell on Wednesday, taking a breather after reaching a significant milestone, while traders pored over disappointing unemployment data. The 30-stock Dow slid about 173.77 points, or 0.6%, to 29,872.47. The S&P 500 dipped 0.2%, or 5.76 points, to 3,629.65 after reaching an all-time closing high in the previous session. The Nasdaq Composite outperformed, rising 0.5%, or 57.62 points, to 12,094.40.
The Labor Department said that 778,000 people filed for unemployment benefits for the first time last week. Economists polled by Dow Jones expected initial jobless claims to come in at 733,000.
Salesforce led the Dow lower, falling more than 5% after Dow Jones reported the company held talks to buy Slack Technologies. CNBC later confirmed the report. Shares of Slack popped more than 37%. Energy fell 2.4% and was the worst-performing sector in the S&P 500.
European stocks closed little changed on Wednesday, pausing for breath after rallying on growing political certainty in the U.S. and positive coronavirus vaccine news. The pan-European Stoxx 600 index provisionally finished the session 0.06% below the flatline. Oil and gas stocks slid 1.26% to lead losses while telecoms gained 1.08%.
The European Central Bank (ECB) on Wednesday warned that European banks will not see profits return to pre-pandemic levels before 2022.
BELEX15 lost 0.51% as Belgrade Airport and NIS were down 1.9% and 0.7%, respectively. Komercijala Banka I still the most active, with RSD 6m in volume.
The Republic of Serbia issued a ten-year eurobond in the international financial market, three days ago, in the amount of USD 1.2 bn, at the coupon rate of 2.125% and the yield rate of 2.35%. These are the lowest interest rates so far, i.e. the best conditions the country has achieved in terms of financing in dollars.
Source: CNBC, Ilirika