U.S. stocks reversed early morning gains and turned lower on Thursday amid softer-than-expected economic data and ahead of an important jobs report due on Friday.
Weekly jobless claims rose by more than expected, the U.S. trade deficit gap widened by more than forecast and the ISM services index rose in line with estimates.
The S&P 500 slipped 3 points, or 0.2%, to 1,887.16, briefly hitting an intra day high. The benchmark index closed at a record on Wednesday.The Dow Jones Industrial Average was trading 17 points, or 0.1%, lower at 16,556.14. The index also hit an intra day high this morning.The Nasdaq Composite fell 27 points, or 0.6%, to 4,249.21.
Weekly jobless claims rose by more than expected, the U.S. trade deficit gap widened by more than forecast and the ISM services index rose in line with estimates.
The S&P 500 slipped 3 points, or 0.2%, to 1,887.16, briefly hitting an intra day high. The benchmark index closed at a record on Wednesday.The Dow Jones Industrial Average was trading 17 points, or 0.1%, lower at 16,556.14. The index also hit an intra day high this morning.The Nasdaq Composite fell 27 points, or 0.6%, to 4,249.21.