Investing.com - U.S. stocks closed mixed Thursday, despite data showing that U.S. initial jobless claims fell to their lowest level since February 2008 last week, amid fresh hopes that Spain will soon request a sovereign bailout.
At the close of U.S. trade, the Dow Jones Industrial Average fell 0.14%, the S&P 500 index climbed 0.02%, while the Nasdaq Composite index gave back 0.08%.
The U.S. Department of Labor said the number of individuals filing for initial jobless benefits last week fell by 30,000 to a seasonally adjusted 339,000, compared to expectations for an increase of 1,000 to 370,000.
Sentiment was also boosted by optimism that a downgrade on Spain by ratings agency Standard & Poor’s would force the country into requesting a formal bailout.
S&P cut the country’s credit rating to BBB-minus with a negative outlook late Wednesday, just one notch above junk status, citing “mounting risks to Spain’s public finances.”
Sprint was one of the session's top gainers, as shares soared 15.67% after the Wall Street Journal reported that Japan's Softbank is in "advanced" talks to buy a USD12.8 billion stake in the wireless communications company.
Financial stocks also posted sharp gains, as U.S. lenders tracked their European counterparts' performances. Shares in Goldman Sachs climbed 0.92% and JP Morgan rallied 1.44%, while Bank of America and Citigroup surged 1.63% and 2.28% respectively.
Separately, Federal authorities are now reportedly using taped phone conversations to build criminal cases related to the multibillion-dollar trading loss at JP Morgan, focusing on calls in which employees openly discussed how to value the troubled bets in a favorable way.
Elsewhere, the world’s largest soft-drinks maker, Coca-Cola added 0.13% amid reports it is currently in discussions to invest about USD10 million in Spotify Ltd., the subscription music-streaming service.
At the close of European trade, the EURO STOXX 50 fell 1.24%, France’s CAC 40 advanced 1.42%, while Germany’s DAX 30 climbed 1.06%.
Investors are awaiting the Federal budget balance and Michigan consumer sentiment, as well as the core PPI from the United States on Friday.