Stocks end with gains in an up and down sessionDow +52.31 at 26805.44, Nasdaq +39.28 at 10672.29, S&P +9.67 at 3246.59 [BRIEFING.COM] The stock market oscillated between gains and losses on Thursday, with the S&P 500 ultimately closing higher by 0.3%. The Nasdaq Composite increased 0.4%, the Dow Jones Industrial Average increased 0.2%, and the Russell 2000 finished flat. The S&P 500 started the day lower by 0.9%, extending the month's pullback and briefly turning negative for the year, before the dip buyers stepped in. By the afternoon, the benchmark index was up 1.3% but sellers regained control on no specific news. The inability to sustain another rebound was disappointing for the bulls but not necessarily bearish. Ten of the 11 S&P 500 sectors finished in positive territory, even as declining issues edged out advancing issues at both the NYSE and Nasdaq. The utilities (+1.2%), consumer staples (+0.8%), and information technology (+0.6%) sectors outperformed in a defensive-minded trade that excluded the health care sector (-0.5%). Generally, investors remained nervous about election volatility, the prospects for another fiscal relief bill, the trajectory of the coronavirus, and U.S.-China relations. On stimulus, House Speaker Pelosi (D-CA) will reportedly introduce a $2.4 trillion relief bill, but it's unlikely to have the support of Republicans. Regarding the economy, the labor market remained in poor standing as weekly jobless claims increased by 4,000 to 870,000 (Briefing.com consensus 825,000). New home sales, however, rose 4.8% m/m in August to a seasonally adjusted annual rate of 1.011 million (Briefing.com consensus 875,000) -- its highest rate since November 2006. Interestingly, a pair of analysts turned bullish on some battered financial stocks. Goldman Sachs ($GS 195.11, +8.99, +4.8%) was upgraded to Buy from Hold at UBS, and Wells Fargo ($WFC 23.32, +0.49, +2.2%) was added to the Fresh Pick List at Robert W. Baird. U.S. Treasuries traded within another narrow range and closed little changed. The 2-yr yield was unchanged at 0.13%, and the 10-yr yield decreased one basis point to 0.67%. The U.S. Dollar Index declined 0.1% to 94.33. WTI crude futures gained 0.9%, or $0.37, to $40.31/BBL. Reviewing Thursday's economic data: Jobless claims for the week ending September 19 increased by 4,000 to 870,000 (Briefing.com consensus 825,000) while continuing claims for the week ending September 12 decreased by 167,000 to 12.580 million.The key takeaway from the report is that initial jobless claims remain at stunningly high levels that point to the ongoing challenges U.S. businesses face getting back on a pre-pandemic track. In the same period a year ago, initial jobless claims were 215,000.New home sales in August did something they haven't done since November 2006 -- exceed a seasonally adjusted annual rate of 1.0 million. Specifically, they rose 4.8% m/m to 1.011 million (Briefing.com consensus 875,000) and were up 43.2% yr/yr.The key takeaway from the report is that it reflects strong demand for new homes at more affordable price points, as the South region, which is the largest homebuilding region and features lower average prices, saw sales increase 13.4% m/m. Looking ahead, investors will receive Durable Goods Orders for August on Friday. Nasdaq Composite +18.9% YTDS&P 500 +0.5% YTDDow Jones Industrial Average -6.0% YTDRussell 2000 -13.0% YTD Market Snapshot Dow26805.44+52.31(0.20%)Nasdaq10672.29+39.28(0.37%)SP 5003246.59+9.67(0.30%)10-yr Note +1/320.664NYSEAdv 1439 Dec 1513 Vol 928.0 mlnNasdaqAdv 1356 Dec 1928 Vol 4.0 bln Industry Watch Strong: Utilities, Consumer Staples, Information Technology, MaterialsWeak: Health Care Moving the Market -- Major indices close slightly higher in uneven session-- Defensive mindset amid general market uncertainty -- Economic data showed continued woes in labor market, continued strength in housing sectorStocks have choppy day of trading as investors wait for aid news The major averages traded on both sides of the flat line during a choppy day of trading as persistent concern over the virus and disappointment over the lack of additional fiscal stimulus were weighed against investors' desire to buy the market's recent dip. It looked for a period in the afternoon that stocks were locked in for a day of gains after Treasury Secretary Mnuchin noted in testimony that he hopes to restart negotiations on another fiscal relief bill with House Speaker Pelosi, who is said to be working on a new proposal, but the gains evaporated late in the session. The averages gathered themselves again following the late-day dip and finished in the green. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 4,000 to 870,000 in the week ended September 19. New home sales climbed another 4.8% to a 14-year high pace of 1.01M units in August. TOP NEWS: Spotify ($SPOT), Match Group ($MTCH) and "Fortnite" creator Epic Games have joined a nonprofit group - the Coalition for App Fairness - that plans to advocate for legal and regulatory action to challenge Apple's ($AAPL) App Store practices, Reuters' Stephen Nellis reported. Investors in Epic include Tencent ($TCEHY), KKR ($KKR), Disney ($DIS), and Sony ($SNE). In M&A news, E.W. Scripps ($SSP) announced a deal to buy national broadcast network ION Media for $2.65B, combining the business with Scripps' Katz networks and Newsy to create a full-scale national television networks business. As part of the agreement, Berkshire Hathaway ($BRK.A, $BRK.B) will make a $600M preferred equity investment in Scripps to finance the transaction. Berkshire Hathaway also will receive a warrant to purchase up to 23.1M Class A shares, at an exercise price of $13 per share. Shares of E.W. Scripps rose 7.6% following the deal announcement. Meanwhile, Amazon ($AMZN) was in focus after the e-commerce giant announced new hardware, including new Echo and Fire TV devices, as well as Luna, a new cloud gaming service. The company also introduced Ring Car Connect, an API for car manufacturers that allows customers to receive mobile alerts for detected events, watch recorded vehicle video footage, and see important vehicle information such as if the car is locked or unlocked. Ring Car Connect will first be compatible with Tesla ($TSLA) vehicles, Amazon noted. Additionally, The Information reported that ViacomCBS ($VIAC) has been investigating an allegation of sexual misconduct by CEO Bob Bakish. A spokesman for the company told The Information that the investigation had concluded and that the company's findings "did not support the allegation." MAJOR MOVERS: Among the noteworthy gainers was Owens & Minor ($OMI), which rose 47.4% after it raised its fiscal 2020 guidance. Also higher was Natera ($NTRA), which jumped 4.1% after multiple analysts raised their price targets on the shares, with Craig-Hallum's Alexander Nowak noting that Medicare issued a draft coverage decision that he said "put Natera further in the pole position within cancer recurrence monitoring." Among the notable losers was Nikola ($NKLA), which slid 9.7% after Wedbush analyst Daniel Ives downgraded the stock to Underperform from Neutral with a price target of $15, down from $45. Also lower was Rite Aid (RAD), which fell 17.8% after reporting quarterly results and giving guidance.Source: (Briefing.com)(theFly.com) Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. (Sign-up if you haven't already done so). Follow us/bookmark us and check back occasionally for additional articles or comments on our page... Wild Tiger Trading - start/main page. . Want to trade some of these stocks?Are you interested in trading stocks to supplement your income or make a living? Maybe become a professional trader? 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