U.S. stocks closed mixed after wavering in a narrow range Thursday, as investors digested a batch of generally upbeat economic data.
The Dow Jones Industrial Average fell 23.22 points, or 0.13 percent, to 17,828.29. The S&P 500 edged down 0.44 point, or 0.02 percent, to 2,090.10. The Nasdaq Composite Index rose 6.88 points, or 0.14 percent, to 4,901.77. U.S. new orders for manufactured durable goods in April increased 7.7 billion U.S. dollars, or 3.4 percent, to 235.9 billion dollars, well above market estimates of a 0.5 percent gain, the Commerce Department said Thursday.
This increase, up three of the last four months, followed a 1.9 percent March increase. In the week ending May 21, the advance figure for seasonally adjusted initial claims decreased 10,000 from the previous week's unrevised level to 268,000, below market consensus, the U.S. Labor Department announced Thursday.
The 4-week moving average was 278,500, an increase of 2,750 from the previous week's unrevised average of 275,750. Meanwhile, investors tried to shake off worries that the possibility of a June rate hike becomes higher after the release of the Federal Reserve's hawkish minutes from its April meeting. However, the latest speech from Fed officials indicated a hike sooner rather than later.
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