Stocks Ended Flat after ECB, Jobless Claims

U.S. stocks swung wildly between gains and losses on Thursday but finished the session virtually unchanged. The Dow Jones Industrial Average ended down 3.66 points, or 0.02%, at 16,801.05. The S&P 500 was up 0.01 point at 1,946.17. The Nasdaq Composite picked up 8.11 points, or 0.18%, to 4,430.19.

The European Central Bank will buy assets for at least two years to boost inflation and economic growth in the euro area, President Mario Draghi said.

The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, a sign the U.S. labor market might be tightening. Initial claims for state unemployment benefits dropped 8,000 to a  seasonally adjusted 287,000 in the week ended Sept. 27, the Labor Department said on Thursday.

Charles Schwab Corp has dropped the Pimco Total Return Fund from its 10 target date funds, a company spokeswoman told Reuters Thursday.

Walt Disney Co’s board extended Chairman and Chief Executive Bob Iger’s contract through June 2018, keeping him at the helm of the media and theme park company two years longer than he previously planned.

Mortgage-rate trends were mixed early this week, Freddie Mac said, with lenders offering a 30-year fixed loan at an average of 4.19%, down from 4.2% a week earlier.