US Stocks extend losses to fourth day

The US stocks mostly lower for fourth session in row on Thursday, 09 September 2021, with all three major averages pulled back well off their early highs and finished the day in the negative territory.

The Wall Street commenced trading with firm footing after the Labor Department latest report showing a bigger than expected decrease in first-time claims for U.S. unemployment benefits in the week ended September 4th. The report said initial jobless claims fell to 310,000, a decrease of 35,000 from the previous week's revised level of 345,000.

The market, however, failed to hold early momentum and buying interest waned over the course of the session amid continued concerns about the impact of the rapid spread of the delta variant of the coronavirus and uncertainty about the outlook for monetary policy.

At the close of trade, the Dow Jones Industrial Average index declined 151.69 points, or 0.43%, to 34,879.38. The S&P 500 index fell 20.79 points, or 0.46%, to 4,493.28. The tech-heavy Nasdaq Composite Index was down 38.38 points, or 0.25%, to 15,248.25.

Total 8 of 11 S&P500 sectors declined, while remaining 3 sectors closed up. Real estate (down 2.1%) sector was worst performer, followed by healthcare (down 1.2%), consumer staples (down 0.6%), and industrials (down 0.47%) sectors, while financials (up 0.25%) sector was top gainer, followed by energy (up 0.1%) and materials (up 0.1%) sectors.

Total volume turnover on U.S. exchanges was 8 billion shares, down from previous session volume of 8.13 billion shares. In the NYSE exchange, 1621 issues advanced, 1654 issues declined, and 160 issues closed unchanged. In the NASDAQ, 2304 issues advanced, 2077 issues declined, and 251 issues unchanged.

GameStop shares advanced on bargain buying after video-game retailer posted a narrower loss compared with the year prior.

Boston Beer shares closed down after pulling its earnings guidance amid slowing growth in its hard seltzer brand.

Among Indian ADR, Dr Reddys Labs fell 0.86% to $65.75, INFOSYS fell 1.1% to $22.93, WNS Holdings fell 1.4% to $80.99, and HDFC Bank fell 1.2% to $75.83, and ICICI Bank fell 0.4% to $19.53. Vedanta added 1.7% to $17.48, Tata Motors added 2% to $120.21, and Wipro added 0.1% to $9.42.

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