The Dow Jones Industrial Average reversed early losses and finished nearly 0.2% higher at 4 p.m. ET. But losses on the other major indexes made Thursday a mixed day.
On Thursday, initial jobless claims fell to 216,000 for the week ended Sept. 2, from a revised 229,000 in the prior week, according to Econoday. The odds of a rate hike in November stands at 43.4%, according to the CME FedWatch Tool.
The S&P 500 also pared some of its losses and traded 0.3% lower at the closing bell.
The Nasdaq lagged with a 0.9% fall as tech stocks sold off.
All three indexes remained under their 50-day moving averages during the trading day.
Volume was higher on the NYSE and picked up in the last hour of trading on the Nasdaq compared with the same time Wednesday.
The small-cap Russell 2000 fell 1% while the Innovator IBD 50 ETF fared better with a 0.4% drop.
Crude oil fell over 0.5% to $86.95 a barrel.
The yield on the benchmark 10-year Treasury note fell 3 basis point to 4.26%.
Late Thursday, Cathie Wood's ARK Invest along with asset management firm 21 Shares filed with the SEC to offer an Ethereum spot ETF that will hold ether cryptocurrency. Major asset management firms awaiting approval of a U.S. spot crypto ETF include VanEck and Blackstone.
Dow Jones Stocks
Apple pared some losses after falling sharply on news of China curbs on iPhone use by government officials. The stock undercut its 50-day line on Wednesday and finished 3% lower Thursday. Tech leaders in the Dow, Microsoft and Cisco, also fell.
Intel rose into a buy zone from a 37.19 entry after breaking out on Tuesday on news that it will offer its foundry services to chipmaker Tower Semiconductor. The relative strength line for chip leader Intel is at a new high. Earlier, Intel was in talks to acquire Tower Semiconductor, but did not get the required regulatory signoff.
Nasdaq Breaks 50-Day, But Holds This; 4 Stocks Near Buy Points
Stocks Moving Today
Sprinklr gave back most of its early gains in the afternoon but was still slightly higher at closing bell. The enterprise software stock is in a buy zone from a 15.50 entry with the relative strength line at a new high. Sales grew 18% in the second quarter with earnings showing a second sequential quarter of profitability. At the midpoint, the company expects revenue of $165 million in the third quarter.
Among enterprise software stocks, Smartsheet rose in after hours trading after reporting earnings. Revenue grew 26% to $235.6 million, above its guidance of $228 million to $231 million, with earnings per share of 16 cents also coming above views of 7 cents-8 cents. Shares were below the 50-day line in the stock market today
Braze is on deck as well. Braze expects revenue of $108.5 million and a loss per share of 13.5 cents at the midpoint. Shares are well-extended from the latest buy point.
Verint Systems gapped down in strong volume after it reported lower second-quarter sales and earnings late Thursday. Amkor Technology fell after the company said it is offering 10 million shares in a secondary offering.
Outside the Dow Jones, meme play GameStop pared losses after quarterly results. Revenue grew 2% while a loss of 3 cents per share improved from a 35-cent loss from the same quarter a year earlier. The stock was up 0.7% at the market close, but well below its 50-day line.
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