Stocks were mixed Thursday as traders tried to recover some ground following a massive tech selloff in the previous session.
The Dow Jones Industrials remained negative 118.97 points to 36,288.14.
The S&P 500 index eked up 7.79 points to 4,708.37.
The NASDAQ recovered 59.72 points at 15,159.90. The NASDAQ has fallen about 4% over the previous two trading sessions.
Several tech stocks continued their slide, as investors continued rotating out of high valuation names. Tesla hesitated 4%, and Netflix fell 3%. Apple and Amazon also fell. Other megacap tech stocks rose, however. Alphabet added about 1%, Meta Platforms gained 3.6%.
Fintech stocks and crypto stocks were hit hard. Robinhood dropped 6% and SoFi lost 5%, while Affirm and Afterpay both fell about 4%. In crypto, Coinbase fell 3%, Microstrategy slid 4% and Square lost 2%.
Shares of Citi rose 2%, while Wells Fargo, Fifth Third Bancorp and Regions Financial gained about 1% each.
Energy shares helped boost the market as crude prices rose 3.4%. Diamondback Energy climbed about 4%, Devon Energy added 3% and Halliburton gained 2%.
Elsewhere Thursday, shares of Allbirds gained 3.9% after Morgan Stanley upgraded the shoe brand, whose stock has struggled since it went public in November.
Shares of Walgreens Boots Alliance reversed earlier gains from a strong earnings report and last traded down about 1%. Meanwhile, Bed Bath & Beyond shares soared more than 12% even after the company reported a loss for its fiscal third quarter.
Initial claims for unemployment insurance ticked up to 207,000 for the week ending Jan.1, the U.S. Labor Department reported Thursday.
Economists surveyed by Dow Jones expect claims would total 195,000. The all-important non-farm payroll numbers are due for release Friday.
Prices for 10-year Treasurys eased back, raising yields to 1.74% from Wednesday's 1.70%. Treasury prices and yields move in opposite directions.
Oil prices gained $2.09 to $79.94 U.S. a barrel.
Gold prices plunged $35.50 to $1,789.60 U.S. an ounce.