US STOCKS-S&P 500 ends lower after hitting record high

  • Reuters
  • Stock Market News
US STOCKS-S&P 500 ends lower after hitting record high

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

* Boeing (NYSE: BA ) jumps on Ryanair's 737 MAX jet orders

* Jobless claims fall after rising for two straight weeks

* Goldman Sachs (NYSE: GS ) raises Tesla to "buy"

(Updates with close)

By Noel Randewich

Dec 3 (Reuters) - The S&P 500 .SPX ended lower on Thursday after a report that Pfizer Inc (NYSE: PFE ) PFE.N had slashed the target for the rollout of its COVID-19 vaccine.

The widely followed U.S. stock benchmark fell from record highs late in the session after the Wall Street Journal reported that Pfizer faced supply chain obstacles related to the vaccine, sending its stock down. Co BA.N jumped after budget airline Ryanair RYA.I ordered 75 additional 737 MAX jets with a list price of $9 billion, throwing a commercial lifeline to the embattled U.S. planemaker. Inc surged TSLA.O after Goldman Sachs upgraded the stock to "buy" in the run-up to the electric car maker's addition to the S&P 500. was Wall Street's most traded stock by value, with over $22 billion worth of shares exchanged, according to Refinitiv data, more than double Boeing, in second place.

First-time U.S. claims for jobless benefits fell last week, but remained extraordinarily high at 712,000, while a separate survey showed U.S. services industry activity slowed to a six-month low in November. don't think we will see those numbers start to get back to normal until we start to see a rollout of a vaccine," said Sal Bruno, chief investment officer at IndexIQ. "The market is discounting that and saying we are looking forward to the first or second quarter and a rollout of the vaccine to the general population."

U.S. Senate Majority Leader Mitch McConnell cited some positive movement in congressional efforts to reach a compromise on a new coronavirus aid bill but gave no hints on when such a deal could be struck. in developing a working COVID-19 vaccine before the end of the year has driven Wall Street's main indexes to record levels in recent days. Despite the economic destruction caused by the pandemic, the S&P 500 has gained about 14% in 2020.

Unofficially, the Dow Jones Industrial Average .DJI rose 86.71 points, or 0.29%, to 29,970.5, the S&P 500 .SPX lost 2.24 points, or 0.06%, to 3,666.77 and the Nasdaq Composite .IXIC added 27.82 points, or 0.23%, to 12,377.18.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100