U.S. stocks rose in back-and-forth trading Thursday as a flurry of corporate headlines held investor attention over any moves from the major averages.
The benchmark S&P 500 climbed 0.2%, while the Dow Jones Industrial Average added roughly 90 points, or about 0.3%. The technology-heavy Nasdaq Composite ticked up 0.1%. The moves come after a modest rebound on Wednesday from the stock market’s worst day since June 2020.
On the corporate side, “buy now, pay later” companies were closely-watched amid news the U.S. Consumer Financial Protection Bureau (CFPB) will start regulating the delayed payment industry over concerns their offerings financially harm consumers. Shares of Affirm (AFRM), a leader in the space, fell more than 3%.
Elsewhere, Adobe (ADBE) announced plans for a $20 billion acquisition of online design startup Figma in order to expand its lineup of hybrid-work-friendly platforms. Shares of Adobe tanked more than 13%.
In economic data, initial jobless claims fell for a…