Investing.com -- U.S. stocks were mixed on Thursday, as steady retail sales figures and a dwindling four-week average for initial jobless claims bolstered hawkish arguments for an imminent interest rate hike during the Federal Open Market Committee's two-day meeting in September.
The U.S. Census Bureau said Thursday that retail sales surged by 0.6% last month, above analysts' expectations for a 0.5% gain. The report also received a boost from upwardly revised retail sales figures for May and June, providing optimism for positive overall gains for the second quarter. Earlier, the U.S. Department of Labor said the four-week average for initial jobs claims fell by 1,750 to 266,250, a level approximately 15,000 lower from its level in mid-July.
The Dow Jones Industrial Average withstood sharp declines in energy, as U.S. crude futures fell to their lowest levels since March, 2009, amid lingering concerns of oversupply. The energy losses and a slight dip in Apple Inc (NASDAQ:AAPL) shares, however, weighed on the NASDAQ Composite index and the S&P 500 Composite index, which closed mildly lower after a late sell-off. The Dow gained 5.74 or 0.03% to 17,408.25 on Thursday, halting an extended skid of nine losses in its previous 10 sessions. The NASDAQ, meanwhile, fell 10.83 or 0.21% to 5,033.56.
The S&P 500 inched down 2.66 or 0.13% to 2,083.39, as eight of 10 sectors closed in the red. Stocks in the Energy, Basic Materials and Telecommunications industries lagged, each losing more than 0.4% on the session.
Cisco Systems Inc (NASDAQ:CSCO) ended the day as the top performer on the Dow after gaining 0.90 or 3.23% to 28.80, amid stronger than expected quarterly results. At one point in Thursday's session, the San Jose, Calif- based multinational technology company rose nearly 4% on the day, experiencing its strongest one-day move since February. The worst performer was Intel Corporation (NASDAQ:INTC), which fell 0.56 or 1.88% to 28.91, as investors locked into profits from the company's solid performance a day earlier.
The biggest gainer on the NASDAQ was Monster Beverage 1990 Corp (NASDAQ:MNST), which surged 6.89 or 4.85% to 149.04. Keurig Green Mountain Inc (NASDAQ:GMCR) finished the session as the worst performer, after falling 2.55 or 4.82% to 50.34. Shares in Keurig Green Mountain are down by more than 50% on the year.
On the S&P 500, News Corp A (NASDAQ:NWSA) ended the day as the top performer after gaining 1.09 or 7.72% to 15.21. Earlier on Thursday, reports surfaced that Rupert Murdoch's mass media corporation is looking to sell off Amplify, its struggling digital education unit. Kohl`s Corporation (NYSE:KSS) finished as the session's worst performer, after losing 5.41 or 8.80% to 56.09 amid weaker than expected same-store sales last quarter.
On the New York Stock Exchange, declining issues outnumbered advancing ones by a 1,859 to 1,228 margin.