US stocks erase early gains, end flat

US stocks wiped out early gains on Thursday to end flat amid lackluster trading on Christmas holidays.

The Dow Jones Industrial Average finished on a steady note at 43,325 points, after losing more than 180 points in early trading.

The S&P 500 index also kept flat at 6,037 points, with Nasdaq remaining unchanged at 20,020.

The European markets were closed for the Boxing Day holiday, ahead of Christmas shutdown. Trade will resume on Friday.

The Nikkei index advanced 1.1%, or 437 points, to 39,568, with the broader Topix index adding 1.2% to close at 2,766 points.

In the oil market, prices for Brent crude futures for February 2025 delivery fell 0.45%, or 32 cents, to $73.26 a barrel.

Meanwhile, prices for WTI crude futures for February 2025 delivery declined 0.7%, or 48 cents, to $69.62 a barrel.

Gold futures for February 2025 delivery rose by 0.7%, or $18.57, to $2,653.9 per ounce.

Data from the US Department of Labor showed that initial jobless claims decreased by 1,000 to 219,000 during the week ending December 21, contrary to expectations of an increase to 223,000 claims.

Trading activity was light during the week due to the holidays, with US markets closing early on Tuesday and remaining shut on Wednesday.