New York Stock Market Quiet with Slight Decline... S&P 500 Index Down 0.3%

[Photo by Reuters Yonhap News]

[Asia Economy Reporter Park Byung-hee] The New York stock market closed slightly lower on the 30th (local time) after showing a strong start but weakening later.

The Dow Jones Industrial Average closed at 36,398.08, down 0.25% from the previous trading day. The S&P 500 fell 0.30% to 4,778.73, and the Nasdaq Composite dropped 0.16% to 15,741.56.

The New York stock market showed an upward trend early in the session, supported by positive economic indicators.

The Department of Labor reported that initial jobless claims for the week of December 19-25 fell below 200,000 again, indicating an improving labor market.

Last week's initial jobless claims were 198,000, a decrease of 8,000 from the previous week.

The December Chicago Purchasing Managers' Index (PMI) also supported the rise, recording 63.1, higher than the expected 62.0.

However, the upward momentum did not continue amid a sharp decline in trading volume due to the year-end market.

Market cap giant Apple fell 0.7%, and Microsoft also dropped 0.8%.

Biogen plunged 7.1% after Samsung Biologics denied reports of acquiring Biogen, causing the stock to plummet.

Tesla fell 1.5% after announcing a recall of approximately 475,000 electric vehicles in the U.S. due to rear camera and hood defects.

On the other hand, Twitter surged 4%, while Meta Platforms and Netflix rose 0.4% and 0.3%, respectively.

Chinese company stocks soared.

Electric vehicle maker Nio's stock price jumped 14.8%, Tencent Music Entertainment Group surged 14.7%, and Alibaba's stock also rose 9.7%.

This content was produced with the assistance of AI translation services.