S&P 500 snaps winning streak, but Dow closes higherDow +11.93 at 26281.82, Nasdaq -67.10 at 9615.84, S&P -10.52 at 3112.22 [BRIEFING.COM] The S&P 500 declined 0.3% on Thursday in a mixed session to snap a four-session winning streak. The Dow Jones Industrial Average eked out a 0.1% gain, the Nasdaq Composite declined 0.7%, and the Russell 2000 closed flat. Early in the session, the S&P 500 overcame a negative start, but failed to break above the 3100 level, which was yesterday's high and the high from March 4. The Nasdaq 100 (-0.8%) even set a new all-time high before retracing gains alongside the broader market. Technical factors, then, appeared to have a role in calming this market down. The information technology (-0.8%) and health care (-0.8%) sectors were influential laggards, but the rate-sensitive real estate (-1.8%) and utilities (-2.0%) sectors declined the most amid an increase in longer-dated Treasury yields. The 10-yr yield rose six basis points to 0.82%, while the 2-yr yield was flat at 0.19%. There were pockets of relative strength, though, specifically in the S&P 500 financials (+2.0%) and industrials (+1.1%) sectors, the Philadelphia Semiconductor Index (+0.8%), and in many of the travel-related industries. The latter were boosted by American Airlines ($AAL 16.74, +4.89, +41.3%) announcing plans to increase its domestic flying schedule for the summer travel season due to improving demand. AAL shares surged 41% while Boeing ($BA 184.30, +11.14, +6.4%) shares rose 6%. In other developments, weekly initial claims remained elevated at 1.877 million (Briefing.com consensus 1.800 million), continuing claims increased by 649,000 to 21.487 million, and the ECB increased its pandemic emergency purchase program by EUR600 billion to a total of EUR1.350 trillion. The ECB extended this program until at least the end of June 2021. The aggressive stimulus from the ECB fueled optimism about a recovery in Europe, which could be on the verge of a stronger fiscal union. The euro continued to rise against the dollar, contributing to another 0.5% decline in the U.S. Dollar Index (96.82). Reviewing Thursday's economic data: Initial claims for the week ending May 30 decreased by 249,000 to 1.877 million (Briefing.com consensus 1.800 million). Continuing claims for the week ending May 23 increased by 649,000 to 21.487 million.The key takeaway from the report is twofold: (1) initial claims are still extremely high and (2) continuing claims didn't continue to improve, denoting some slowness in rehiring activity.A revision reported by the BLS indicated nonfarm business sector labor productivity decreased 0.9% (Briefing.com consensus -2.6%) in the first quarter versus an originally reported decrease of 2.5%. Unit labor costs, meanwhile, increased 5.1% versus an originally reported 4.8% increase.The key takeaway from the report is that productivity was better than expected in the first quarter, but it was still weak all the same.The U.S. trade deficit widened to $49.4 billion in April (Briefing.com consensus -$49.8 billion) from an upwardly revised $42.3 billion (from -$44.4 billion) in March.The key takeaway from the report is that it was accented by a sizable decline in both exports and imports, which was a byproduct of reduced demand due to shutdown measures implemented around the globe to help contain the spread of COVID-19. Looking ahead, investors will receive the Employment Situation Report for May and Consumer Credit for April on Friday. Nasdaq Composite +7.2% YTDS&P 500 -3.7% YTDDow Jones Industrial Average -7.9% YTDRussell 2000 -13.0% YTD Market Snapshot Dow26281.82+11.93(0.05%)Nasdaq9615.84-67.10(-0.69%)SP 5003112.22-10.52(-0.34%)10-yr Note -7/320.821NYSEAdv 1610 Dec 1296 Vol 1.2 blnNasdaqAdv 1689 Dec 1589 Vol 6.0 bln Industry Watch Strong: Financials, Materials, IndustrialsWeak: Utilities, Real Estate, Health Care Moving the Market -- Major indices retrace weekly gains in choppy session-- Weekly initial claims decreased by 323,000 to 2.123M (Briefing.com consensus 1.950 million), while continuing claims increased 21.487M-- ECB boosts its pandemic emergency purchase program by EUR600 billion to a total of EUR1.350 trillionECONOMIC EVENTS: In U.S. data, initial jobless claims fell 249,000 to 1.88M in the week ended May 30. The trade deficit widened by less than expected to an 8-month high of $49.4B in April. The first quarter productivity estimate was boosted by more than expected to a 0.9% contraction rate from a prior estimate of a decline of 2.5%. In Europe, the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged. The ECB also announced that the envelope for the pandemic emergency purchase program, or PEPP, will be increased by EUR 600B to a total of EUR 1.35T. "In response to the pandemic-related downward revision to inflation over the projection horizon, the PEPP expansion will further ease the general monetary policy stance, supporting funding conditions in the real economy, especially for businesses and households. The purchases will continue to be conducted in a flexible manner over time, across asset classes and among jurisdictions," the central bank said. TOP NEWS: Shares of TD Ameritrade ($AMTD) rose 5% after Charles Schwab ($SCHW) announced that on June 3 the Antitrust Division of the United States Department of Justice informed Schwab that the DOJ has decided to close its investigation of Schwab's proposed acquisition of TD Ameritrade. Subject to satisfaction of certain conditions, both companies continue to expect that their merger transaction will close in the second half of the year. Shares of Charles Schwab were 2% higher after the news. In other M&A news, Reuters reported that the board of LVMH ($LVMUY) met to discuss the impact from COVID-19 on the company's acquisition of Tiffany ($TIF), with such discussions establishing a potential attempt to review deal terms. LVMH is reportedly seeking ways to reopen deal talks and could try to pressure Tiffany to lessen the agreed upon deal price of $135 per share by delving into its compliance with financial covenants. CNBC then reported that Tiffany is prepared to litigate if LVMH seeks a price cut, though LVMH has yet to propose any actual deal term changes to Tiffany. Meanwhile, LVMH later issued a statement that the company is not considering buying Tiffany shares on the market. Amazon ($AMZN) was in focus after Reuters reported that the company is in early-stage talks to acquire a stake worth at least $2B in Indian mobile operator Bharti Airtel. The news comes after Amazon announced last night the lease of 12 Boeing ($BA) 767-300 converted cargo aircraft from Air Transport Services Group ($ATSG). Shares of Air Transport have jumped 9% after the news. On the earnings front, Fossil ($FOSL) shares surged 13% after the company reported first quarter results, though the company said that worldwide second quarter net sales are expected to decline in the range of 60%-70%. Meanwhile, shares of eBay ($EBAY) rose 8% after the company reported "stronger" global gross merchandise volume in April and May and raised its Q2 adjusted earnings per share and revenue guidance. The e-commerce giant added that its business is performing "significantly better than expectations" shared in its prior earnings report. MAJOR MOVERS: Among the noteworthy gainers was Anavex ($AVXL), which rose 7% after it received approval to expand the Phase 2b/3 double-blind, randomized, placebo-controlled safety and efficacy trial of ANAVEX 2-73 for the treatment of early Alzheimer's disease into Canada and U.K. Also higher was G-III Apparel ($GIII), which gained 11% after reporting quarterly results. Among the notable losers was J.M. Smucker ($SJM), which slid 4% after the company reported quarterly results and provided fiscal 2021 guidance. Also lower after reporting quarterly results was Smartsheet ($SMAR), which fell 22%.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? Many traders have the skills and nerves to trade, but not the upfront capital. 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