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* Mnuchin says COVID-19 relief talks are progressing
* US FDA advisory committee meets on Pfizer’s COVID-19 vaccine
* Indices: Dow down 0.2%, S&P flat, Nasdaq up 0.6% (market open updates)
Dec 10 (Reuters) – Wall Street’s major indexes rebounded from early losses on Thursday as signs of progress in fiscal stimulus talks overshadowed data showing a surge in jobless claims due to trade curbs tied to the coronavirus.
The S&P 500 was little changed after falling 0.7% as Treasury Secretary Mnuchin said talks between Republican and Democratic senators were making “a lot of progress” with further talks expected later in the day.
“The market is very obsessed with the anticipation that some type of deal can be done fairly quickly,” said Ryan Detrick, chief market strategist at LPL Financial in North Carolina.
All three major indexes opened lower after Labor Department data showed a higher-than-expected increase in weekly jobless claims.
The shaky job market recovery and recent surge in COVID-19 infections have put pressure on policymakers to come up with another bailout, as most of the government’s financial aid has waned. dried up.
U.S. lawmakers on Wednesday approved an interim government funding bill that would buy more time for negotiations, but a deal has remained elusive amid disagreements over state and local government aid and protecting the corporate responsibility.
As of 10:40 a.m. ET, the Dow Jones Industrial Average fell 47.72 points, or 0.16%, to 30,021.09, the S&P 500 gained 0.70 points, or 0.02% to 3,673.52 and the Nasdaq Composite gained 69.33 points, or 0.56% to 12,408.28.
Eight of the 11 major S&P sectors were down. The energy index jumped about 3%, following a rise in oil prices.
Pfizer Inc shares edged higher ahead of a meeting of outside advisers from the U.S. Food and Drug Administration (FDA) later in the day to decide whether to recommend the agency authorize its COVID-19 vaccine. 19 for emergency use.
Some officials have said vaccinations could begin as early as this weekend if the FDA agrees.
Home rental company Airbnb Inc said on Wednesday it sold shares in its initial public offering at $68 each to raise about $3.5 billion.
Airbnb’s IPO is the largest by a U.S. operating company in 2020 and its shares are expected to begin trading on Nasdaq on Thursday.
Advancing issues outnumbered decliners for a 1.1-to-1 ratio on the NYSE and a 1.3-to-1 ratio on the Nasdaq.
The S&P 500 posted five new 52-week highs and no new lows, while the Nasdaq posted 118 new highs and 13 new lows. (Reporting by Shriya Ramakrishnan in Bengaluru; Editing by Shounak Dasgupta)
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