Market closes little changed amid mixed dataDow -39.51 at 26080.12, Nasdaq +32.52 at 9943.06, S&P +1.85 at 3115.21 [BRIEFING.COM] The S&P 500 increased 0.1% on Thursday after trading near its flat line for most of the session amid mixed economic signals. The Dow Jones Industrial Average (-0.2%), Nasdaq Composite (+0.3%), and Russell 2000 (unch) also closed little changed. Most sectors within the S&P 500 alternated between gains and losses throughout the day. The energy sector (+1.2%) showed relative strength amid an uptick in oil prices ($38.79/BBL, +0.86, +2.3%) despite lingering coronavirus concerns, while the real estate sector (-1.3%) showed relative weakness. Unfortunately, the latest unemployment data didn't strike the same level of awe that the May employment report did. Initial jobless claims for the week ending June 13 remained elevated at 1.508 million (Briefing.com consensus 1.350 million), as did continuing claims at 20.544 million for the week ending June 6. Conversely, there was some noticeable improvement in other data. The Philadelphia Fed Index for June unexpectedly turned positive (27.5 actual vs. -25.0 Briefing.com consensus), and the Conference Board's Leading Economic Index for May increased for the first time since January (+2.8% actual vs. +2.5% Briefing.com consensus). Spotify ($SPOT 225.28, +25.45, +12.7%), meanwhile, was a clear winner after the company reached separate podcasting deals with Warner Bros. for its DC content and Kim Kardashian West for her work with the Innocence Project. Spotify didn't confirm its partnership with Ms. Kardashian West, but it was first reported by The Wall Street Journal. In other corporate news, T-Mobile US ($TMUS 106.39, +3.76, +3.7%) said it's seeing a faster-than-expected recovery in retail, Biogen ($BIIB 260.30, -21.16, -7.5%) lost a patent dispute for its MS drug, and Kroger ($KR 31.81, -1.00, -3.1%) shares fell 3% despite the company beating top and bottom-line estimates. U.S. Treasuries finished mixed with longer-dated tenors closing higher. The 2-yr yield was unchanged at 0.19%, while the 10-yr yield declined four basis points to 0.69%. The U.S. Dollar Index increased 0.3% to 97.47 amid relative weakness in the British pound after the Bank of England increased its asset purchase program to GBP745 billion. Reviewing Thursday's economic data: Initial jobless claims for the week ending June 13 were higher than expected (and still high) at 1.508 million (Briefing.com consensus 1.350 million) versus 1.566 million in the prior week. Continuing jobless claims for the week ending June 6 decreased by 62,000 to 20.544 million.The key takeaway from the initial claims report for some will be that the level of initial claims is lower than the week before, but the more meaningful takeaway for many is that initial jobless claims still running in the millions at this point isn't good at all.The Conference Board's Leading Economic Index (LEI) increased 2.8% in May (Briefing.com consensus 2.5%) following a downwardly revised 6.1% decline (from -4.4%) in April. It was the first increase in the LEI since January.The key takeaway from the report is that it is reflective of an uptick in activity as some state economies started to reopen in May, yet the uptick is relative to a very depressed base in March and April.The Philadelphia Fed Index for June unexpectedly increased to 27.5 (Briefing.com consensus -25.0) from -43.1 in May. Looking ahead, investors will receive the Current Account Balance for the first quarter on Friday. Nasdaq Composite +10.8% YTDS&P 500 -3.6% YTDDow Jones Industrial Average -8.6% YTDRussell 2000 -14.5% YTD Market Snapshot Dow26080.12-39.51(-0.15%)Nasdaq9943.06+32.52(0.33%)SP 5003115.21+1.85(0.06%)10-yr Note +25/320.700NYSEAdv 1289 Dec 1609 Vol 1.0 blnNasdaqAdv 1623 Dec 1681 Vol 4.2 bln Industry Watch Strong: Information Technology, EnergyWeak: Real Estate Moving the Market -- Stock market closes mixed and little changed in tight-ranged session-- Weekly jobless claims remain elevated at 1.508 mln (Briefing.com consensus 1.350 mln), but other data showed meaningful improvement -- Relative strength in the energy and information technology sectorsECONOMIC EVENTS: In U.S. data, initial jobless claims fell 58,000 to 1.508M in the week ended June 13. The Philly Fed manufacturing index bounced 70.6 points to 27.5 in June, which was much better than expected. The leading economic indicator index bounced 2.8% to 99.8 in May. In COVID-19 news, New York Governor Andrew Cuomo said he is being advised by his medical advisors to consider quarantines of travelers coming from states with infection spikes, like Florida. The governor noted he has been putting off making a decision, pointing to the irony that other states were imposing mandatory quarantines on New Yorkers, but he is now considering it. On the opposite coast, California Governor Gavin Newsom has issued an executive order requiring its citizens to wear masks in most indoor public settings and outdoors when distancing isn't possible, Associated Press reported. In D.C. news, The Hill reported that House Democrats unveiled a $1.5T infrastructure plan that calls for a major increase in funding to fix roads and bridges while expanding broadband access in rural areas. TOP NEWS: Shares of Biogen ($BIIB) fell 7.5% after a U.S. District Court ruled in favor of Mylan ($MYL) and invalidated the company's Orange Book-listed patent that provided exclusivity into the 2028 timeframe for Tecfidera, Biogen's product approved by the FDA for use in the treatment of multiple sclerosis. Biogen, which has confirmed the unfavorable ruling, said it intends to appeal the court's decision. Shares of Kroger ($KR) were more than 3% lower despite the grocer's report of same-store sales, excluding fuel, rising 19% in the first quarter. Shares of Carnival ($CCL) fell 1.4% after the cruiseline operator's update. While Stifel analyst Steven Wieczynski said preliminary results for Q2 "are somewhat irrelevant at this point given the global pause in ship operations," he also said the company gave updates that provide some positives but also some negatives. Separately, Berenberg analyst Stuart Gordon downgraded Carnival to Sell from Hold with a price target of $10, down from $14.50, calling the stock's valuation "highly unattractive" and the company's capital structure "unsustainable" and in need of an injection of new equity. Meanwhile, Hertz Global ($HTZ) shares were 10% lower after The Wall Street Journal reported that the company is in talks with lenders for a $1B bankruptcy loan. Amid a trading halt for news pending, the car rental company disclosed that the Finance Committee of its board of directors determined that it was in the best interests of the company to terminate the "at the market" offering of up to $500M of its common stock and directed that the stock sale program be terminated. Additionally, Facebook ($FB) was in focus after CNN reported that the social media giant took down advertisements run by President Donald Trump's re-election campaign for violating its policies on hate. The ads, which attacked what the campaign referred to as "Dangerous MOBS of far-left groups," features an upside-down triangle, which the Anti-Defamation League said "is practically identical to that used by the Nazi regime to classify political prisoners in concentration camps," CNN said. MAJOR MOVERS: Among the noteworthy gainers was Enphase Energy ($ENPH), which rose over 17% as analysts remained bullish on the shares following Prescience Point's negative research report on the stock. Also higher was Spotify ($SPOT), which rose 12.7% after announcing a new multiyear partnership with Warner Bros. ($T) and DC to produce and distribute an original slate of narrative scripted podcasts. The news came after The Wall Street Journal reported yesterday that Spotify has reached a deal with Kim Kardashian West for a podcast about her involvement with the Innocence Project. Among the notable losers was U.S. Steel ($X), which slid 13% after it announced an offering of 50M shares of common stock. Also lower was Hudson ($HUD), which fell 7.5% after reporting quarterly results.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? 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