NEW YORK, Sept. 7 (Xinhua) -- U.S. stocks traded in a narrow range and ended mixed Thursday, a day after U.S. President Donald Trump reached a deal with Democratic leaders to raise the federal government's debt limit and fund the government through December 15.
The Dow Jones Industrial Average was down 22.86 points, or 0.10 percent, to 21,784.78. The S&P 500 lost 0.44 points, or 0.02 percent, to 2,465.10. The Nasdaq Composite Index gained 4.55 points, or 0.07 percent, to 6,397.87.
"In the meeting, the President and Congressional leadership agreed to pass aid for Harvey, an extension of the debt limit, and a continuing resolution both to Dec. 15, all together," House Democratic leader Nancy Pelosi and Senate Democratic leader Chuck Schumer said in a joint statement following a meeting with Trump in the White House.
Investors had been fretting about the possibility of a government shutdown if the debt limit wasn't raised.
Financial sector dropped 1.65 percent, dragging down major indices. Many big banks such as Citigroup and Goldman Sachs fell more than one percent, as interest rates decline.
On the economic front, in the week ending Sept. 2, the advance figure for seasonally adjusted initial claims was 298,000, an increase of 62,000 from the previous week's unrevised level of 236,000, the Labor Department said Thursday. This is the highest level for initial claims since April 18, 2015 when it was 298,000.
The 4-week moving average was 250,250, an increase of 13,500 from the previous week's unrevised average of 236,750.
Overseas, the European Central Bank (ECB) decided on Thursday that the Eurozone base interest rate will remain at 0.00 percent.
The ECB President Mario Draghi said that the bank will decide on the calibration of its policy instruments beyond the end of the year, saying that "probably the bulk of these decisions will be taken in October." Enditem
