Dow Falls as Jobless Claims Numbers Disappoint


The Nasdaq Composite was up 16.68 points, or 0.17%, at 9,959.73.

Apple said Friday that it was temporarily shutting 11 stores across Florida, Arizona, North Carolina and SC, following spikes in Covid-19 infections.

The Dow Jones Industrial Average abruptly turned lower Friday after Apple said it was closing some stores due to a rise in coronavirus cases, stoking fears of another lockdown.

The Dow is up 474.56 points, or 1.9%.

The Russell 2000 index of small company stocks lost 8.44 points, or 0.6%, to 1,418.63. The US current account deficit dipped to a 2-year low in the Q1.

Investors were still keeping track of headlines around the coronavirus on Thursday, with the likes of Arizona and Texas both reporting a huge spike in numbers of new confirmed cases a day earlier.

Saudi Arabia to end voluntary cuts on top of OPEC+ pact
As OPEC met virtually over the weekend, Tropical Storm Cristobal was swirling over the Gulf of Mexico. The dragon nation's purchases hit a record high of 11.3 million barrels per day in May.

This article is being republished as part of our daily reproduction of articles that also appeared in the USA print edition of The Wall Street Journal (June 20, 2020). All 11 sectors were positive at one point and negative at one point.

The S&P index recorded four new 52-week highs and no new low, while the Nasdaq recorded 32 new highs and no new low. Apple shares were down 0.5% Friday afternoon.

In other markets, USA crude futures rose 0.7% to $38.22 a barrel, regaining some momentum as a meeting to monitor compliance with the so-called 'OPEC+' alliance's deal on output restraint passed off without major incident, while executives from major trading companies Vitol and Trafigura told Bloomberg that global demand is picking up quickly.

AMC Entertainment Holdings jumped 5.8 per cent on plans to reopen theatres at about 450 locations in the United States next month and the company expects returning to full-seating capacity around Thanksgiving. The U.S. withdrew from an global process to devise a new framework for taxing multinationals earlier in the week, something that may hasten the imposition of taxes on digital services by the big European economies.

The benchmark S&P 500 and the blue-chip Dow slipped after rising more than 1% earlier, as an increase in oil prices supported views of an economic recovery.