Investing.com - U.S. stocks were mixed to lower on Thursday, after data showed that U.S. jobless claims fell less-than-expected last week while sustained concerns over the economic outlook in the euro zone continued to weigh on investor confidence.
During early U.S. trade, the Dow Jones Industrial Average fell 0.24%, the S&P 500 index declined 0.14%, while the Nasdaq Composite index edged up 0.04%.
The U.S. Department of Labor said earlier that the number of people who filed for unemployment assistance in the U.S. last week fell less-than-expected to 357,000, but remained close to the lowest level since April 2008.
Jobless claims have remained below 400,000, a level historically associated with an improving labor market, in 21 of the past 23 weeks.
Meanwhile, sentiment remained under pressure as Spain’s borrowing costs continued to rise following Wednesday’s poorly received government bond auction. The yield on the country’s 10-year bond climbed to 5.83% earlier, the highest level since mid-December.
Concerns over the outlook for growth in the euro zone also mounted following a recent string of weak economic data.
Financial stocks were mixed as shares in Citigroup declined 0.71% and JP Morgan retreated 0.27%, while Bank of America and Goldman Sachs rose 0.33% and 0.38% respectively.
JP Morgan Chief Executive Jamie Dimon said on Wednesday that the company is inclined to restrict its stock buybacks when its shares are trading above USD45.
In earnings, Constellation Brands plummeted 9.56% even after the wine company posted robust earnings, thanks to higher sales and lower expenses. The company also approved a USD1 billion stock buyback.
Retailers were also on the downside although most of them posted solid gains in March, helped by the warm weather that prompted customers to purchase seasonal goods sooner than usual. Macy's saw shares fall 0.21%, Limited tumbled 1.83% and shares in Gap plummeted 1.50%.
Elsewhere, shares in Quest Software Inc. fell 0.22% after the group’s new chief executive rushed to sell the company to head off a possible investigation by regulators, according to a shareholder lawsuit that shines a light on the technology company's accounting.
On the upside, Delta Airlines jumped 1.53%, as the company is considering a bid for ConocoPhillips' idled 185,000 barrel per day refinery in Trainer, Pennsylvania.
Apple shares also added 0.12% after the company said it is reluctant to agree to terms sought by U.S. and European antitrust authorities investigating possible electronic-book price-fixing, according to the Wall Street Journal.
Across the Atlantic, European stock markets were mixed. The EURO STOXX 50 dropped 0.67%, France’s CAC 40 essed 0.07%, Germany's DAX retreated 0.46%, while Britain's FTSE 100 added 0.09%.
During the Asian trading session, Hong Kong's Hang Seng Index slumped 0.7%, while Japan’s Nikkei 225 Index fell 0.6%.
During early U.S. trade, the Dow Jones Industrial Average fell 0.24%, the S&P 500 index declined 0.14%, while the Nasdaq Composite index edged up 0.04%.
The U.S. Department of Labor said earlier that the number of people who filed for unemployment assistance in the U.S. last week fell less-than-expected to 357,000, but remained close to the lowest level since April 2008.
Jobless claims have remained below 400,000, a level historically associated with an improving labor market, in 21 of the past 23 weeks.
Meanwhile, sentiment remained under pressure as Spain’s borrowing costs continued to rise following Wednesday’s poorly received government bond auction. The yield on the country’s 10-year bond climbed to 5.83% earlier, the highest level since mid-December.
Concerns over the outlook for growth in the euro zone also mounted following a recent string of weak economic data.
Financial stocks were mixed as shares in Citigroup declined 0.71% and JP Morgan retreated 0.27%, while Bank of America and Goldman Sachs rose 0.33% and 0.38% respectively.
JP Morgan Chief Executive Jamie Dimon said on Wednesday that the company is inclined to restrict its stock buybacks when its shares are trading above USD45.
In earnings, Constellation Brands plummeted 9.56% even after the wine company posted robust earnings, thanks to higher sales and lower expenses. The company also approved a USD1 billion stock buyback.
Retailers were also on the downside although most of them posted solid gains in March, helped by the warm weather that prompted customers to purchase seasonal goods sooner than usual. Macy's saw shares fall 0.21%, Limited tumbled 1.83% and shares in Gap plummeted 1.50%.
Elsewhere, shares in Quest Software Inc. fell 0.22% after the group’s new chief executive rushed to sell the company to head off a possible investigation by regulators, according to a shareholder lawsuit that shines a light on the technology company's accounting.
On the upside, Delta Airlines jumped 1.53%, as the company is considering a bid for ConocoPhillips' idled 185,000 barrel per day refinery in Trainer, Pennsylvania.
Apple shares also added 0.12% after the company said it is reluctant to agree to terms sought by U.S. and European antitrust authorities investigating possible electronic-book price-fixing, according to the Wall Street Journal.
Across the Atlantic, European stock markets were mixed. The EURO STOXX 50 dropped 0.67%, France’s CAC 40 essed 0.07%, Germany's DAX retreated 0.46%, while Britain's FTSE 100 added 0.09%.
During the Asian trading session, Hong Kong's Hang Seng Index slumped 0.7%, while Japan’s Nikkei 225 Index fell 0.6%.