Investing.com - U.S. stocks closed mixed Thursday, as disappointing U.S. data increased worries over global growth, following the release of weak economic reports from the euro zone and China.
At the close of U.S. trade, the Dow Jones Industrial Average added 0.14%, the S&P 500 index dropped 0.05%, while the Nasdaq Composite index declined 0.21%.
The U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending September 15 fell by 3,000 to a seasonally adjusted 382,000, compared to expectations for a decrease of 10,000 to 375,000.
The previous week’s figure was revised up to 385,000 from a previously reported 382,000.
Market sentiment had weakened broadly earlier, after preliminary data showed that the euro zone’s manufacturing purchasing manufacturers' index rose more-than-expected in September, while service sector activity fell unexpectedly.
Earlier in the day, data showed that China’s HSBC Flash Purchasing Managers Index remained in contraction territory for the 11th consecutive month, adding to fears over a further slowdown in the region’s largest economy.
Financial stocks were broadly lower as U.S. lenders tracked their European counterparts' performances and after UBS downgraded Morgan Stanley, Goldman Sachs and Citigroup to "neutral" from "buy."
As the U.S. session opened, JP Morgan tumbled 1.57% and Goldman Sachs declined 1.42%, while Citigroup and Morgan Stanley plunged 2.02% and 3.98% respectively.
Separately, Bank of America, whose shares were plummeted 1.72%, was reportedly planning to cut 16,000 jobs by year end and speeding up a company-wide cost-cutting initiative amid declining revenues.
On the upside, Adobe Systems climbed 0.88%, even as it said current-quarter earnings will decline or remain flat as customers take to the company's new subscription-based model faster than expected.
Among earnings, ConAgra Foods surged 5.46% after the packaged-food maker reported higher-than-expected earnings and boosted its full-year forecast.
Home-merchandise retailer Bed Bath & Beyond dove 7.56% on the other hand, as it missed earnings expectations and posted same-store sales growth that slowed.
Other stocks in focus included Oracle, due to report earnings after the closing bell.
At the close of European trade, the EURO STOXX 50 declined 0.57%, France’s CAC 40 slumped 0.62%, while Germany’s DAX 30 eased lower by 0.02%.
Investors are awaiting the Canadian core CPI on Friday on an otherwise light scheduled news day.
At the close of U.S. trade, the Dow Jones Industrial Average added 0.14%, the S&P 500 index dropped 0.05%, while the Nasdaq Composite index declined 0.21%.
The U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending September 15 fell by 3,000 to a seasonally adjusted 382,000, compared to expectations for a decrease of 10,000 to 375,000.
The previous week’s figure was revised up to 385,000 from a previously reported 382,000.
Market sentiment had weakened broadly earlier, after preliminary data showed that the euro zone’s manufacturing purchasing manufacturers' index rose more-than-expected in September, while service sector activity fell unexpectedly.
Earlier in the day, data showed that China’s HSBC Flash Purchasing Managers Index remained in contraction territory for the 11th consecutive month, adding to fears over a further slowdown in the region’s largest economy.
Financial stocks were broadly lower as U.S. lenders tracked their European counterparts' performances and after UBS downgraded Morgan Stanley, Goldman Sachs and Citigroup to "neutral" from "buy."
As the U.S. session opened, JP Morgan tumbled 1.57% and Goldman Sachs declined 1.42%, while Citigroup and Morgan Stanley plunged 2.02% and 3.98% respectively.
Separately, Bank of America, whose shares were plummeted 1.72%, was reportedly planning to cut 16,000 jobs by year end and speeding up a company-wide cost-cutting initiative amid declining revenues.
On the upside, Adobe Systems climbed 0.88%, even as it said current-quarter earnings will decline or remain flat as customers take to the company's new subscription-based model faster than expected.
Among earnings, ConAgra Foods surged 5.46% after the packaged-food maker reported higher-than-expected earnings and boosted its full-year forecast.
Home-merchandise retailer Bed Bath & Beyond dove 7.56% on the other hand, as it missed earnings expectations and posted same-store sales growth that slowed.
Other stocks in focus included Oracle, due to report earnings after the closing bell.
At the close of European trade, the EURO STOXX 50 declined 0.57%, France’s CAC 40 slumped 0.62%, while Germany’s DAX 30 eased lower by 0.02%.
Investors are awaiting the Canadian core CPI on Friday on an otherwise light scheduled news day.