Wall Street closed relatively flat today as investors looked ahead to the government’s official update on August employment due out Friday.
The S&P 500 Retailing Industry Group inched up 0.1 percent, or 0.72 points, to 821.62 as the Dow Jones Industrial Average rose just 6.61 points to 14,937.48.
Gainers included Sears Holdings Corp., ahead 6.3 percent to $47.96; Jos. A. Bank Clothiers Inc., up 5.6 percent to $42.27 after the company said its sales results turned positive last month, and J.C. Penney Co. Inc., 5.3 percent to $14.22.
The Labor Department said initial jobless claims fell by 9,000 last month to 323,000, a sharper improvement than the 2,000 decline projected by economists.
Investors are still waiting for Friday’s report on August employment, which should offer a clearer indication of where the labor market is headed. Economists project the U.S. added 177,000 jobs last month, up from the 162,000 gain in July.
In Europe, markets were on the rise.
The FTSE 100 in London led the way with an increase of 0.9 percent to 6,532.44, followed by the FTSE MIB in Milan, 0.8 percent to 16,842.70, and the CAC 40 in Paris, 0.7 percent to 4,006.80. The DAX in Frankfurt advanced 0.5 percent to 8,234.98.
The euro traded at $1.32 against the dollar, while the pound fetched $1.56 and the Swiss franc $1.07.
Retail and luxury stocks were mostly up, with the day’s biggest gainers including Marks & Spencer, up 3.4 percent to 4.95 pounds; Metro AG, 2 percent to 28.60 euros and Burberry Group, 2.1 percent to 15.70 pounds.
Among the stocks that lost the most ground were Ferragamo, down 1.6 percent to 25.28 euros; Yoox.com, 1.4 percent to 24.07 euros, and Beiersdorf AG, 1.5 percent to 64.13 euros.