Stocks eke out gains | New home sales surge | Jobless claims rise unexpectedly

Thursday's batch of U.S. data had investors wondering what's next for the economy and contributed to sharp moves throughout the trading day.

VIEW IN BROWSER | SUBSCRIBE THU, SEP 24, 2020 EVENING BRIEF AS OF THU, SEP 24, 2020 • 04:24 ET DJIA 26815.44 +0.20% +52.31 S&P 500 3246.59 +0.30% +9.67 NASDAQ 10672.27 +0.37% +39.28   Most Active DOW NAME LAST CHG %CHG AAPL 108.22 +1.10 +1.03% MSFT 203.19 +2.60 +1.30% CSCO 37.85 -0.43 -1.12% S&P 500 NAME LAST CHG %CHG AAPL 108.22 +1.10 +1.03% GE 6.06 -0.05 -0.82% F 6.66 +0.02 +0.30% NASDAQ NAME LAST CHG %CHG AAPL 108.22 +1.10 +1.03% TSLA 387.79 +7.43 +1.95% AMD 75.82 +1.09 +1.46%   EDITOR'S NOTE Thursday's batch of U.S. data had investors wondering what's next for the economy and contributed to sharp moves throughout the trading day.   The Dow Jones Industrial Average was down 226 points to start Thursday trading before a sharp turnaround helped the average close slightly higher. The S&P 500 and Nasdaq Composite ended the day up 0.3% and 0.4%, respectively. They also erased losses from earlier in the day.   That choppy trading action came after the release of blowout housing data and disappointing unemployment claims numbers.   The Census Bureau reported that new home sales in the U.S. totaled just over 1 million in August. Economists polled by Dow Jones expected a gain of 898,000.   However, initial jobless claims totaled 870,000 for the week ended Sept. 19, higher than a Dow Jones estimate of 850,000. Continuing claims — which include those who have received unemployment benefits for at least two straight weeks — declined slightly but were still higher than forecast.   "People are getting concerned about what kind of economic recovery we're going to get in the next few months," said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors. "Some parts of the economy are doing well and some are slowing down a bit."   Don't miss CNBC and Institutional Investor's Delivering Alpha conference on September 30, featuring Treasury Secretary Steven Mnuchin, Senator Elizabeth Warren, Alibaba's Joseph Tsai, Vista Equity Partners' Robert Smith, J.P. Morgan's Mary Callahan Erdoes, Inclusive Capital's Jeff Ubben and more. Fred Imbert | CNBC Markets Reporter @foimbert TOP NEWS  Stocks eke out small gains after wild session, Apple leads tech higher Weekly jobless claims rise unexpectedly as stimulus boost fades Lawmakers push back against Trump's refusal to commit to peaceful transfer of power New home sales crush expectations, but the supply is running out Amazon announces new Fire TVs and a brand new home screen that makes it easier to find stuff to watch Racial inequality cost the economy $16 trillion over the last two decades, Citi finds Cramer: 'Don't be aggressive' but look to buy tech stocks like Apple that are way off highs Target to hire 130,000 holiday workers, in line with last year, but jobs will focus on online orders Salesforce CEO Marc Benioff praises former boss Larry Ellison for TikTok deal: He's the 'master of relevance' Here's a recap of the biggest market-moving news on Thursday   TOP VIDEO American Homes 4 Rent CEO on rising demand for single-family rentals   CNBC PRO Wedbush downgrades Nikola to underperform: 'Downside risks outweigh any positives'   SPECIAL REPORTS Scores of workers still haven't seen $300 unemployment boost—in some states, it's already gone 'Character counts' — Carly Fiorina, GOP presidential candidate in 2016, explains why she'll vote for Biden   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