Stocks Decline as Energy Shares Retreat

U.S. stocks opened lower on Thursday, as energy companies slid amid a drop in oil. The Dow Jones Industrial Average lately dropped 75.86 points, or 0.42%, to 18,000.33. The S&P 500 fell 8.34 points, or 0.40%, to 2,091.16. The Nasdaq Composite edged up 1.47 points, or 0.03%, to 4,984.30.

The number of Americans filing new claims for unemployment benefits rose marginally last week, indicating the labor market remained on solid footing despite slowing economic growth. Initial claims for state unemployment benefits increased 1,000 to a seasonally adjusted 291,000 for the week ended March 14, the Labor Department said on Thursday. The increase was broadly in line with economists’ expectations.

Oil prices tumbled Thursday as traders assessed record-high crude inventories and a strengthening dollar. Light, sweet crude for April delivery fell $1.84, or 4.1%, to $42.82 a barrel on the New York Mercantile Exchange, on track to settle at a new six-year low.

Shares of Amicus Therapeutics rallied sharply Thursday, after the biotech company said it had a positive meeting with European regulators about its application to have a treatment for Fabry disease approved.

Hewlett-Packard (HPQ) said Thursday it is raising its quarterly dividend by 10% to 17.6 cents a share. The new dividend will be payable April 1 to shareholders of record as of close of trade March 11.

GoDaddy Inc. on Thursday said it plans to raise up to $418 million in an initial public offering that could leave the Internet-domain registrar with a market capitalization approaching $3 billion.