Tech boosts stocks | Jobless claims back above 1 million | Apple split to hurt the Dow?

A jump in jobless claims back above 1 million could be a warning that the labor market faces a setback and the economy's comeback could be slowing.

VIEW IN BROWSER | SUBSCRIBE THU, AUG 20, 2020 EVENING BRIEF AS OF THU, AUG 20, 2020 • 04:23 ET DJIA 27739.73 +0.17% +46.85 S&P 500 3385.51 +0.32% +10.66 NASDAQ 11264.95 +1.06% +118.49   Most Active DOW NAME LAST CHG %CHG INTC 49.17 +0.84 +1.74% AAPL 473.10 +10.27 +2.22% MSFT 214.58 +4.88 +2.33% S&P 500 NAME LAST CHG %CHG GE 6.27 -0.11 -1.72% INTC 49.17 +0.84 +1.74% BAC 25.10 -0.40 -1.57% NASDAQ NAME LAST CHG %CHG INTC 49.17 +0.84 +1.74% AMD 82.77 +1.68 +2.07% AAL 12.50 -0.18 -1.42%   EDITOR'S NOTE The stock market may be back at records, but the labor market is still in rough shape.   Weekly jobless claims for the week ended Aug. 15 totaled just over 1.1 million. Economists polled by Dow Jones expected them to come in at 923,000.    "The modest jump is a stark reminder that claims will likely encounter some turbulence as they fall rather than gliding in for a soft landing," said Daniel Zhao, senior economist at Glassdoor. The data comes as lawmakers struggle to move forward on a new coronavirus pandemic stimulus package. It also follows a stark warning on the economy from the Federal Reserve just a day earlier.   Thursday's jobless claims report dampened sentiment on Wall Street, capping the broader market's gains. However, that disappointment was offset by sharp moves higher from mega-cap tech stocks such as Apple, Facebook and Microsoft.   Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. Fred Imbert | CNBC Markets Reporter @foimbert TOP NEWS  Stocks rise slightly as gains in tech offset worries about the economy U.S. weekly jobless claims jump back above 1 million The rise in jobless claims may be a warning to Congress that the economy needs stimulus Former Trump advisor Steve Bannon arrested on fraud charges in border wall fundraising scheme Appeals court grants Uber and Lyft a temporary reprieve in case over driver classification American Airlines halting service to 15 small cities after federal aid runs out in October Blackstone's Byron Wien says the economy lacks 'natural momentum' and stocks are fully priced 'We're trapped': Californians now face the dual nightmare of wildfires and a pandemic The Dow could fall further behind the other major stock benchmarks after Apple splits its stock Taco Bell unveils new design with more drive-thrus as pandemic permanently shifts how we order   TOP VIDEO El-Erian on how market assistance may help Big Business more than small businesses   CNBC PRO This small-cap growth fund is riding innovators like Carvana to a 40% return this year   SPECIAL REPORTS Weekly jobless claims disappoint. What Cramer and others are watching now Why there's still hope for second $1,200 stimulus checks despite stalled congressional talks   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2020 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS