US STOCKS-S&P 500 steadies as stimulus hopes offset jump in jobless claims

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* Mnuchin says COVID-19 relief talks making progress
* U.S. FDA advisory panel meets on Pfizer's COVID-19 vaccine
* Indexes: Dow down 0.2%, S&P flat, Nasdaq up 0.6%

(Updates to market open)
By Shriya Ramakrishnan
Dec 10 (Reuters) - Wall Street's main indexes recovered from
early losses on Thursday as signs of progress in fiscal stimulus
talks overshadowed data showing an increase in jobless claims
due to coronavirus-related business restrictions.
The S&P 500 was little changed after falling as much as
0.7%, as Treasury Secretary Mnuchin said talks between
Republican And Democratic senators were making "a lot of
progress" with more discussions expected in the day.
"Market is very fixated in anticipation that some type of
deal can be made fairly soon," said Ryan Detrick, chief market
strategist at LPL Financial in North Carolina.
The three main indexes opened lower after Labor Department
data showed a higher-than-expected rise in weekly unemployment
claims. The faltering labor market recovery and the recent surge in
COVID-19 infections have piled pressure on policymakers to come
up with another rescue package, as most of the financial aid
from the government has dried up.
U.S. lawmakers approved a stopgap government funding bill on
Wednesday that would provide more time for negotiations, but an
agreement has remained elusive due to disagreements over aid to
state and local governments and business liability protections.
At 10:40 a.m. ET the Dow Jones Industrial Average .DJI
fell 47.72 points, or 0.16%, to 30,021.09, the S&P 500 .SPX
gained 0.70 points, or 0.02% to 3,673.52 and the Nasdaq
Composite .IXIC gained 69.33 points, or 0.56% to 12,408.28.
Eight of the 11 major S&P sectors were lower. The energy
index .SPNY jumped about 3%, tracking a rise in oil prices.
Pfizer Inc's PFE.N shares edged higher ahead of a meeting
of outside advisers to the U.S. Food and Drug Administration
(FDA) later in the day, to decide whether to recommend that the
agency authorize its COVID-19 vaccine for emergency use.
Some officials said vaccinations could begin as soon as this
weekend if the FDA consented.
Home rental firm Airbnb Inc ABNB.O said on Wednesday it
sold shares in its initial public offering at $68 apiece to
raise around $3.5 billion.
Airbnb's IPO is the biggest by a U.S. operating company in
2020 and its shares are scheduled to start 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 low,
while the Nasdaq recorded 118 new highs and 13 new lows.