NEW YORK: Stocks finished mostly lower Thursday, though the Dow Jones industrial average staged a late-session turnaround to end higher.
The Standard & Poor’s 500 index fell 2.26 points, or 0.2 percent, to close at 1,403.28. It has gained 0.4 percent so far this week and more than 11 percent this year.
The technology heavy Nasdaq composite index lost 9.60 points, or 0.3 percent, to 3,095.36, with the losses denting a weekly rise of 0.9 percent.
Bucking the negative trend on Thursday, the Dow industrials closed up 19.61 points, or 0.2 percent, at 13,145.82 after turning higher in late trading. The Dow is currently up 0.5 percent for the week.
The losses on Wall Street came as data showed that weekly jobless claims fell to 359,000 last week, with the level a bit higher than expected. Also, the Commerce Department reported that U.S. real gross domestic product for the fourth quarter rose at a 3.0 percent annualized rate, unrevised from an earlier estimate.
“With the stock market where it is, any news that is not fantastic is going to be met with some disappointment,” said Glenn Guard, director of investment management at Campbell Wealth Management in Alexandria, Va., of the weekly claims data.
“We’re due for a moderate pullback,” he added, noting that the S&P 500 is set to finish the first quarter with a double-digit advance.
Oil prices fell $2.63 to $102.78 a barrel.