Xinhua
23 May 2020, 02:29 GMT+10
NEW YORK, May 22 (Xinhua) -- U.S. stocks closed mixed on Friday as investors grappled with uncertainties over the COVID-19 pandemic.
The Dow Jones Industrial Average decreased 8.96 points, or 0.04 percent, to 24,465.16. The S&P 500 rose 6.94 points, or 0.24 percent, to 2,955.45. The Nasdaq Composite Index increased 39.71 points, or 0.43 percent, to 9,324.59.
Investors continued to digest some key economic data.
U.S. initial jobless claims came in at 2.438 million in the week ending May 16, the Department of Labor reported Thursday.
Over the past nine weeks, more than 38 million Americans have filed unemployment insurance claims, as the economy continues to reel from the COVID-19 pandemic.
U.S. Federal Reserve Chairman Jerome Powell said Thursday that the U.S. economy is facing an unprecedented level of uncertainty as a result of the coronavirus outbreak.
"We are now experiencing a whole new level of uncertainty, as questions only the virus can answer complicate the outlook," Powell said at a virtual Fed event.
The U.S. central bank chief said while the burden is widespread, "those taking the brunt of the fallout are those least able to bear it."
As of Friday afternoon, more than 1.59 million confirmed COVID-19 cases have been reported in the United States, with over 95,000 deaths, according to the Center for Systems Science and Engineering at Johns Hopkins University.
Get a daily dose of Sports Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Sports Sun.
More InformationWashington DC [US], June 30 (ANI): Taylor Swift and Travis Kelce were recently spotted spending quality time together in New York....
Washington [US], June 29 (ANI): Justin Bieber's little bundle of joy, son Jack Blues, who is just 10 months old, seems to be already...
BEIJING, June 28 (Xinhua) -- Here are the latest Chinese sports headlines from the past week: 1. China's Wang Xinyu finishes runner-up...
Washington DC [US], June 27 (ANI): Ahead of his anticipated appearance in 'Happy Gilmore 2', the Kansas City Chiefs star Travis Kelce...
Venice [Italy], June 27 (ANI): All eyes are on Amazon founder Jeff Bezos and former TV journalist Lauren Sanchez as the couple is all...
Venice [Italy], June 27 (ANI): Lauren Sanchez and Jeff Bezos' wedding festivities are in full swing in Venice. Renowned celebrities,...
Washington DC [US], June 30 (ANI): Taylor Swift and Travis Kelce were recently spotted spending quality time together in New York....
Washington DC [US], June 27 (ANI): Ahead of his anticipated appearance in 'Happy Gilmore 2', the Kansas City Chiefs star Travis Kelce...
Venice [Italy], June 27 (ANI): All eyes are on Amazon founder Jeff Bezos and former TV journalist Lauren Sanchez as the couple is all...
Venice [Italy], June 27 (ANI): Lauren Sanchez and Jeff Bezos' wedding festivities are in full swing in Venice. Renowned celebrities,...
(Photo credit: Stephanie Lecocq/Reuters via Imagn Images) Formula 1 is hot on the tail of the big dog of professional sports marketing,...
Justin Robertson The Ravens added even more firepower to an already loaded roster last month when they signed two-time Pro Bowl cornerback...