U.S. stocks closed narrowly mixed Thursday after wavering in a tight range, as investors kept cautious ahead of Friday's nonfarm payroll report for March.
The Dow Jones Industrial Average fell 31.57 points, or 0.18 percent, to 17,685.09. The S&P 500 lost 4.21 points, or 0.20 percent, to 2,059.74. The Nasdaq Composite Index edged up 0.55 point, or 0.01 percent, to 4,869.85.
Traders were looking to the key monthly employment data and more hints on future monetary policy from the U.S. Federal Reserve. Meanwhile, investors were still sifting through Fed Chair Janet Yellen's remarks on interest rate hikes.
"Given the risks to the outlook, I consider it appropriate for the FOMC to proceed cautiously in adjusting policy," Yellen said in a speech to the Economic Club of New York earlier this week. Federal Open Market Committee (FOMC) is the policy-making panel of the Federal Reserve, the U.S. central bank. Some analysts even believed the U.S. central bank is likely to raise interest rates just once this year and no more than twice next year based on Yellen's dovish comments.
On the economic front, in the week ending March 26, the advance figure for seasonally adjusted initial jobless claims increased 11, 000 from the previous week's unrevised level to 276,000, exceeding market consensus of 266,000, announced the U.S. Labor Department Thursday.
The 4-week moving average was 263,250, an increase of 3,500 from the previous week's unrevised average of 259,750. Overseas, European equities decreased broadly Thursday. German benchmark DAX index at Frankfurt Stock Exchange fell 0.81 percent, while British benchmark FTSE 100 Index lost 0.46 percent.
In Asia, China's stocks continued to rise Thursday, with the benchmark Shanghai Composite Index up 0.11 percent to close at 3, 003.92 points.
Latest comments