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Stocks End Lower One Day After Record Close

Stocks finish lower Thursday, the second-to-last trading session of 2021, one day after the Dow and S&P closed at record highs.
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Stocks finished lower Thursday, one day ahead of the last trading day of the year.

The Dow Jones Industrial Average ended down 90 points, or 0.25%, to 36,398, while the S&P 500 lost 0.030% and the tech-heavy Nasdaq slipped 0.16%.

The Dow and the S&P 500 both reached intraday highs.

Both indexes closed at record highs in the previous session, with the S&P posting its 70th record high, marking the strongest year of gains for the broadest U.S. benchmark since 1995.

Micron Technology  (MU) - Get Micron Technology, Inc. Report and Samsung Electronics warned that a Covid-19 lockdown in the Chinese city of Xi’an could affect their chip manufacturing bases in the area. Micron finished down 2.4%.

The omicron variant continued to spread and JetBlue Airways  (JBLU) - Get JetBlue Airways Corporation Report said late Wednesday that it will cancel about 1,280 flights through Jan. 13, as the Covid strain forces its workers to stay at home.

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JetBlue ended down nearly 1%.

There were more than 1,221 cancellations of flights to, from or within the United States, according to the air travel data site FlightAware.

In addition, the Centers for Disease Control and Prevention raised its Covid-19 warning to its highest level and warned consumers to “avoid cruise travel regardless of vaccination status," causing cruise line stocks to fall.

Meanwhile, a South African study found that two doses of Johnson & Johnson’s  (JNJ) - Get Johnson & Johnson Report Covid vaccine reduced hospitalizations caused by the omicron strain in that country by up to 85%.

Initial jobless claims totaled 198,000 last week, the Labor Department said Thursday. Economists were forecasting 205,000,

Biogen  (BIIB) - Get Biogen Inc. Report shares slumped  7.1% after Samsung BioLogics denied a report that it was discussing takeover plans that would value the drugmaker at around $42 billon.

Tesla  (TSLA) - Get Tesla Inc Report fell 1.5% following a report that the electric vehicle maker will recall hundreds of thousands of its Model 3 and Model S sedans owing to an issue with car's front trunk.