<p><img src="https://static1.businessinsider.com/image/6000ac68a81ea100188db4e2-2000/2020-03-18t171031z_2035138560_rc2hmf991nh2_rtrmadp_3_usa-stocks.jpg" border="0" alt="NYSE Trader" data-mce-source="Lucas Jackson/Reuters" data-mce-caption="Traders look on after trading was halted on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 18, 2020"></p><p></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><ul><li><strong>US stocks ended Thursday lower as investors digested a surge in weekly jobless claims. </strong></li><li><strong>The reading of 965,000 new unemployment filings represented the biggest increase since March and the highest level since August.</strong></li><li><strong>The weak jobs report could give fuel to Democrats passing a massive stimulus bill once President-elect biden is inaugurated.</strong></li><li><strong><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest" target="_blank" rel="noopener">Sign up here for our daily newsletter 10 Things Before the Opening Bell</a>.</strong></li></ul><hr><p>US stocks ended Thursday lower as investors digested a surge in weekly jobless claims.</p><p><a href="https://www.businessinsider.com/us-weekly-jobless-claims-965000-coronavirus-recession-recovery-unemployment-benefits-2021-1">Jobless claims surged to 965,000</a> for the week that ended on Saturday, representing the biggest surge since March and the highest level since August. Economists had expected 800,000 jobless claims for the week.</p><p><a href="https://www.businessinsider.com/economic-outlook-consumer-comfort-index-coronavirus-capitol-riots-recession-recovery-2021-1">Consumer confidence also took a hit,</a> according to the Bloomberg Consumer Comfort Index, which fell 1.2 points to 43.2 in the week ended January 10. </p><p>But the weak reading in jobless claims could give Democrats more fuel to pass a massive multi-trillion-dollar stimulus bill to help hasten the economic recovery from the COVID-19 pandemic. </p><p><strong>Here's where US indexes stood at the 4 p.m. ET close on Thursday:</strong></p><ul><li><strong><a href="https://markets.businessinsider.com/index/s&p_500" target="_blank" rel="noopener">S&P 500</a>:</strong> 3,795.54, down 0.4%</li><li><strong><a href="https://markets.businessinsider.com/index/dow_jones" target="_blank" rel="noopener">Dow Jones industrial average</a>:</strong> 30,991.52, down 0.2% (69 points)</li><li><strong><a href="https://markets.businessinsider.com/index/nasdaq_composite" target="_blank" rel="noopener">Nasdaq composite</a>:</strong> 13,112.64, down 0.1%</li></ul><p><em><strong>Read more:</strong> <a href="https://www.businessinsider.com/cathie-wood-shares-2021-outlooks-on-tesla-economy-bitcoin-ark-2021-1" target="_blank" rel="noopener">Cathie Wood's ARK Invest runs 5 active ETFs that more than doubled in 2020. She and her analysts share their 2021 outlooks on the economy, bitcoin, and Tesla.</a></em></p><p>Two Democratic aides familiar with the discussions told Insider that Senate Democrats were weighing whether to combine infrastructure spending and coronavirus relief legislation <a href="https://markets.businessinsider.com/news/stocks/senate-democrats-biden-stimulus-infrastructure-legislation-package-sanders-2021-1-1029965761'utm_source=markets&utm_medium=ingest">into one bill</a> that wouldn't require Republican votes to pass. The discussions reflect Democrats' desire to swiftly capitalize on their majorities in the House and the Senate following the runoff elections in Georgia.</p><p>Bitcoin rebounded on Thursday and <a href="https://markets.businessinsider.com/currencies/news/bitcoin-price-rally-risk-investors-bulls-return-to-cryptocurrency-2021-1-1029967954">reclaimed the $39,000 level</a> following a sell-off of more than 20% from its record high above $40,000. On Wednesday, European Central Bank President Christine Lagarde called for <a href="https://markets.businessinsider.com/currencies/news/bitcoin-enabled-criminal-money-laundering-regulated-ecb-president-says-2021-1-1029965194'utm_source=markets&utm_medium=ingest">Bitcoin to be regulated globally</a>.</p><p><em><strong>Read more:</strong> <a href="https://www.businessinsider.com/tesla-stock-price-prediction-technical-analysis-wedge-rsi-sven-henrich-2021-1" target="_blank" rel="noopener">'Vastly technically disconnected': A market strategist breaks down the 3 indicators that show Tesla is overpricedand says it's due for a 17% correction in the next 6 weeks</a></em></p><p>The IPO frenzy of 2020 spilled over into 2021, evidenced by Thursday's trading debut <a href="https://markets.businessinsider.com/news/stocks/poshmark-stock-price-surges-post-ipo-first-day-of-trading-2021-1-1029970256">surge in Poshmark</a> and <a href="https://markets.businessinsider.com/news/stocks/petco-stock-price-ipo-first-day-trading-raised-817-million-2021-1-1029970246">Petco</a>, which soared as much as 150% and 73% respectively.</p><p>Virgin Galactic <a href="https://markets.businessinsider.com/news/stocks/virgin-galactic-stock-price-ark-reveals-space-exploration-etf-2021-1-1029967716">jumped as much as 22%</a> after Ark Invest disclosed plans to launch an exchange-traded fund focused on the space-exploration industry.</p><p><a href="https://markets.businessinsider.com/news/stocks/plug-power-stock-price-outlook-analysis-jpmorgan-says-fully-valued-2021-1-1029968843">Plug Power fell 8%</a> after JPMorgan initiated coverage of the hydrogen-fuel-cell manufacturer at "neutral" and set a $60 price target, representing downside potential of 14% from Wednesday's close.</p><p>Oil prices rose. <a href="https://markets.businessinsider.com/commodities/oil-price'type=wti">West Texas Intermediate crude</a> jumped as much as 1.6%, to $53.73 per barrel. <a href="https://markets.businessinsider.com/commodities/oil-price'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest">Brent crude</a>, oil's international benchmark, gained 0.8%, to $56.53 per barrel, at intraday highs.</p><p><a href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> rose as much as 0.7%, to $1,857.59 per ounce.</p><p><em><strong>Read more:</strong> <a href="https://www.businessinsider.com/stocks-to-buy-50-under-owned-recovery-value-goldman-sachs-2021-1'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest'utm_source=markets&utm_medium=ingest" target="_blank" rel="noopener">GOLDMAN SACHS: Buy these 50 under-owned stocks that will roar higher as growth and inflation lift off in 2021</a></em></p><p><a href="https://markets.businessinsider.com/news/stocks/stock-market-news-today-weekly-jobless-claims-surge-biden-stimulus-2021-1-1029970706#comments">Join the conversation about this story »</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/pikes-peak-hill-climb-colorado-most-dangerous-racetrack-2020-2">Why Pikes Peak is the most dangerous racetrack in America</a></p>
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