Stocks open lower after weekly jobless claims rise to three-month high

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U.S. stocks faltered at Thursday’s open as the latest economic data showed the labor market’s momentum may have stalled amid the resurgence of COVID-19 towards the end of the year. The Dow Jones Industrial Average fell 0.6% to 29,887. The S&P 500 slipped 0.7% to 3,645. The Nasdaq Composite was down 1% to 12,219. Weekly initial jobless claims rose to a three-month high of 853,000 in early December, from 716,000. Later, an FDA committee will meet on Thursday morning to weigh the risks and benefits of Pfizer and BioNTech’s experimental vaccine.
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