USA stock indexes were lower on Thursday, with the S&P 500 slipping back into negative territory for the year, as crude logged in a second year of steep losses.
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The Dow slumped 178.84 points or 1 percent to 17,425.03, the Nasdaq plunged 58.44 points or 1.2 percent to 5,007.41 and the S&P 500 dove 19.42 points or 0.9 percent to 2,043.94.
The other industrial category to fall significantly was materials, which includes commodity producers like Alcoa and chemical companies such as Dow.
Canada’s main stock index fell on Thursday as financial sector stocks provided the biggest drag amid broad-based losses ahead of the New Year’s Day holiday on Friday.
In economic data, the number of Americans filing applications for unemployment benefits rose more than projected during the Christmas week, reaching the highest level in nearly six months.
The four-week moving average was 277,000, an increase of 4,500 from the previous week’s unrevised average of 272,500. The Nasdaq composite closed up more than 5.5 percent for the year helped by outperformance in biotech stocks and major tech names, except Apple (AAPL).
Wall Street appears to be settling in for another ho-hum day in what has been a volatile up-and-down year for stocks but which has added up to the stock market finishing the year pretty much where it started the year.
USA jobless claims increased by 20,000 to 287,000 last week, widely missing the 270,000 estimated. Brent crude, used to price worldwide oils, rose 33 cents to $36.79 a barrel in London.
ENERGY: Benchmark U.S. crude edged up 10 cents to $36.70 a barrel in NY.
The Nasdaq, the lone bright spot in 2015 with a 7% gain, was down 0.5%.
The S&P 500 index showed no new 52-week highs and two new lows, while the Nasdaq recorded five new highs and 21 new lows. The Dow Jones Industrial Average lost 63.10 points, or 0.4 per cent, to 17,540.77.
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In early trading, France’s CAC-40 shed 0.4 percent to 4,656.27 and Britain’s FTSE 100 was down 0.2 percent at 6,259.16. The dollar fell to 120.30 yen from 120.55 yen, while the euro fell to $1.0862 from $1.0924.
