Thursday, the US stocks markets closed lower for the second straight session after a solid start. The major indices opened higher following a smaller-than-expected weekly initial jobless claims, even though continuing claims were more-than-expected. The tech stocks dragged for the entire session as Cisco Systems issued an uninspiring revenue forecast even though it posted better-than-expected quarterly earnings. The financials also gave up their gaining streak and finished 0.7% lower.
The Dow Jones Industrial Average (DJIA) dropped by 24.71 points at 9256.26, NASDAQ index fell 19.89 points to 1973.16 and the S&P 500 (SPX) fell by 5.64 points to close at 997.08 points.
The Monthly same-store sales figures for the month of July were largely unimpressive, but upside guidance from retailers like Gap, Kohl''s, and Macy''s helped push the group up 1.1%.
On the economic front, the initial jobless claims fell more than expected, as it came in at 550,000. However, continuing claims climb more than expected at 6.31 million, up from the previous week.
US light crude oil futures for September delivery closed at $71.84 per barrel down by 0.2% on the New York Mercantile Exchange.
Gold futures for the month of December delivery finished the session lower at $962.90 per ounce down by 0.4% on the New York Mercantile Exchange.
The Dow Jones Industrial Average (DJIA) dropped by 24.71 points at 9256.26, NASDAQ index fell 19.89 points to 1973.16 and the S&P 500 (SPX) fell by 5.64 points to close at 997.08 points.
The Monthly same-store sales figures for the month of July were largely unimpressive, but upside guidance from retailers like Gap, Kohl''s, and Macy''s helped push the group up 1.1%.
On the economic front, the initial jobless claims fell more than expected, as it came in at 550,000. However, continuing claims climb more than expected at 6.31 million, up from the previous week.
US light crude oil futures for September delivery closed at $71.84 per barrel down by 0.2% on the New York Mercantile Exchange.
Gold futures for the month of December delivery finished the session lower at $962.90 per ounce down by 0.4% on the New York Mercantile Exchange.
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