Shares of retailers and other consumer companies fell after an increase in weekly unemployment claims.

The number of applications for unemployment benefits, a proxy for layoffs, rose by 181,000 to 965,000 last week, the Labor Department said.

"We are seeing the impact of the latest jump in cases and new restrictions, as the monthly jobs number was quite weak in December and now the weekly claims are spiking," said Ryan Detrick, chief market strategist at brokerage LPL Financial, in e-mailed commentary.

The U.S. Global JETS exchange-traded fund rallied after Delta Air said strength in its cargo business offset some of the pandemic-induced weakness in ticket sales, generating higher-than-forecast fourth-quarter revenue. Investors are also piling into airlines in anticipation of a revival in air travel in the wake of widespread vaccination. Some airlines are still on the ropes, however. Struggling low-cost carrier Norwegian Air Shuttle said it will exit the long-haul market to focus on European short-haul routes, a move that will lead to the loss of 2,160 jobs. 


 Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

01-14-21 1719ET