Shares of industrial and transportation companies rose as another increase in Chinese manufacturing activity offset weak U.S. economic data.
Weekly initial claims for jobless benefits from regular state programs, a proxy for layoffs, declined by 19,000 to a seasonally adjusted 787,000 in the week ended Dec. 26, the Labor Department said, as the jobs market appears to inch back from a slump associated with the winter wave of Covid infections.
Meanwhile, hopes that Congress would pass an increase to stimulus checks faded amid resistance to the idea from Republican Senate Majority Leader Mitch McConnell.
Write to Rob Curran at [email protected]
(END) Dow Jones Newswires
12-31-20 1715ET
