U.S. stocks drifted lower after wavering in a tight range Thursday, as oil prices pared early gains amid worries about a global supply glut.
The Dow Jones Industrial Average fell 40.40 points, or 0.25 percent, to 16,413.43.
The S&P 500 decreased 8.99 points, or 0.47 percent, to 1,917.83.
The Nasdaq Composite Index dipped 46.53 points, or 1.03 percent, to 4,487.54.
Oil prices shaved sharp early gains to end mixed Thursday after government data showed a rise in U.S. crude stockpiles. The West Texas Intermediate for March delivery moved up 11 cents to settle at 30.77 dollars a barrel on the New York Mercantile Exchange, while Brent crude for April delivery decreased 22 cents to close at 34.28 dollars a barrel on the London ICE Futures Exchange.
On the economic front, in the week ending Feb. 13, the advance figure for seasonally adjusted initial claims was 262,000, a decrease of 7,000 from the previous week's unrevised level of 269, 000, the U.S. Labor Department reported Thursday. The 4-week moving average was 273,250, a decrease of 8,000 from the previous week's unrevised average of 281,250.
In corporate news, shares of Wal-Mart tumbled 3.01 percent to 64.12 U.S. dollars apiece Thursday, after the company delivered quarterly earnings above market expectations but revenues shy of forecast. The world's largest retailer also lowered its estimate for sales growth in the fiscal year 2017.
Overseas, European equities also finished mixed Thursday amid oil volatile. German benchmark DAX index at Frankfurt Stock Exchange added 0.92 percent, while British benchmark FTSE 100 Index lost 0.97 percent.
In Asia, Chinese benchmark Shanghai Composite Index trimmed initial gains to end 0.16 percent lower Thursday, while Japanese 225-issue Nikkei Stock Average surged 2.28 percent, spurred by rising oil prices and well-performed U.S. stocks market overnight.
The CBOE Volatility Index, often referred to as Wall Street's fear gauge, fell 3.00 percent to end at 21.64 Thursday.
In other markets, the U.S. dollar climbed against most major peers on Thursday as jobs data from the country came out positive. In late New York trading, the euro declined to 1.1092 dollars from 1.1132 dollars in the previous session, while the dollar bought 113.57 Japanese yen, lower than 113.83 yen of the previous session.
Gold futures on the COMEX division of the New York Mercantile Exchange rose on Thursday as U.S. equities continued to retreat despite upbeat jobless data. The most active gold contract for April delivery gained 14.9 dollars, or 1.23 percent, to settle at 1,226.30 dollars per ounce.
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