Stocks finish mixed as Airbnb soars in debut
Airbnb becomes biggest IPO of 2020
U.S. equity markets ended mixed as investors digested a rise in weekly jobless claims and Airbnb's blockbuster debut while awaiting the approval of a COVID-19 vaccine.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 44782 | -128.65 | -0.29% |
| SP500 | S&P 500 | 6047.15 | +14.77 | +0.24% |
| I:COMP | NASDAQ COMPOSITE INDEX | 19403.947849 | +185.78 | +0.97% |
The Dow Jones Industrial Average was down 70 points or 0.24%, while the S&P 500 was down 0.13% and the Nasdaq Composite was higher by 0.54%.
The mixed session comes after the major averages slid off record highs on Wednesday as House Speaker Nancy Pelosi rejected the Trump administration’s COVID-19 stimulus proposal and as selling in momentum stocks took hold after DoorDash’s strong debut.
U.S. jobless claims climbed by 853,000, more than the 725,000 estimate. Continuing claims, meanwhile, rose to 5.757 million, increasing for the first time in 11 weeks.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| PFE | PFIZER INC. | 25.82 | -0.39 | -1.49% |
| BNTX | BIONTECH SE | 117.20 | -1.19 | -1.01% |
In vaccine news, a Food and Drug Administration panel is set to vote later today on recommending the approval of the Pfizer/BioNTech COVID-19 immunization for emergency use authorization. Distribution of the vaccine is expected to begin within 24 hours of approval.
AIRBNB IPO READY FOR STRONG DEBUT
Elsewhere, travel accommodations booking website Airbnb Inc. opened for trading at $146 after pricing shares at $68 apiece on Wednesday evening. The IPO was the biggest of 2020.
Meanwhile, DoorDash Inc. dropped a day after its blockbuster debut. Shares closed at $189.51 apiece on Wednesday and at $102 the evening prior.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| ABNB | AIRBNB INC. | 136.11 | -2.17 | -1.57% |
| DASH | DOORDASH INC. | 180.48 | +2.04 | +1.14% |
Facebook Inc. shares fell for a second day of losses after the Federal Trade Commission and 48 U.S. states sued the social-media company alleging anticompetitive business practices.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| fb | NO DATA AVAILABLE | - | - | - |
Starbucks Corp. reaffirmed its fiscal year 2021 guidance and longer-term growth forecasts, which include adjusted earnings growth of at least 20% in 2022.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SBUX | STARBUCKS CORP. | 101.51 | -0.95 | -0.93% |
Costco Wholesale Corp., Lululemon Athletica Inc. and Oracle Corp. were set to report their quarterly results after the closing bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| COST | COSTCO WHOLESALE CORP. | 968.23 | +6.68 | +0.69% |
| LULU | LULULEMON ATHLETICA INC. | 319.89 | +0.37 | +0.12% |
| ORCL | ORACLE CORP. | 184.66 | +1.90 | +1.04% |
Looking at commodities, West Texas Intermediate crude oil climbed $1.26 cents to $46.78 per barrel, while Brent crude, the global benchmark, crossed the $50 per barrel level for the first time since March. Gold slipped $1 to $1,833.60 per ounce.
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European markets were mixed after the European Central Bank announced plans to increase its bond-buying program by $500 billion euros to $1.85 trillion. Germany's DAX was traded lower by 0.33% while France’s CAC 40 gained 0.05% and Britain’s FTSE 100 advanced 0.54%.
ECB INJECTS MORE STIMULUS INTO ECONOMY
In Asia, China’s Shanghai Composite index ticked up 0.04%, Japan’s Nikkei 225 slipped 0.23% and Hong Kong’s Hang Seng index lost 0.35%.