(26 November 2020)DAILY MARKET BRIEF 1:Wall Street Retreats, US Market to Be Closed on Thanksgiving

<p>US equities retreated on Wednesday after three bullish sessions in a row that pushed the indexes to new records. Still, Nasdaq managed to close higher. Investor sentiment has turned gloomy after the US reported on its initial jobless claims, which showed that the economic recovery leaves to be desired. The fresh lockdown measures will continue to weigh on the labor market. The S&amp;P 500 fell 0.16%, the Dow lost 0.56%, while Nasdaq rose 0.47%, as tech stocks are usually resistant to pandemic-related news. Out of the 11 major sectors of the S&amp;P 500, 7 closed in the red, with energy being the worst performer. The banking sector fell by 0.7%. The markets in the US will be closed on Thursday in observance of Thanksgiving Day. This can also explain the retreat, as investors took profits before the holiday. The Labor Department said that initial applications for unemployment benefits rose to 778,000 last week, exceeding expectations of 730,000 claims. The previous reading was also revis</p>