NEW YORK - The S&P 500 index closed lower on Wednesday as mounting US layoffs in the wake of new mandated lockdowns to contain surging Covid-19 infections dampened investor risk appetite.
A wide range of data released in advance of Thursday's Thanksgiving holiday was dominated by a second consecutive week of unexpected jobless claims increases, suggesting that new restrictions to combat spiking coronavirus cases could hobble the struggling labor market's recovery. Still, the vaccine developments and removal of uncertainties surrounding the US presidential election have driven Wall Street indexes to record closing highs, and put the S&P 500 on course for its best November ever.
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