Stocks Finished Lower amid Economic Data, Earnings

U.S. stocks closed slightly lower on Thursday as investors grappled with upbeat earnings reports and downbeat economic data. The Dow Jones Industrial Average was down 6.84 points, or 0.04%, to 18,105.77. The S&P 500 was off 1.64 points, 0.08%, to 2,104.99. The Nasdaq Composite fell 3.23 points, or 0.06%, to 5,007.79.

The number of people who sought new U.S. unemployment benefits in the second week of April rose to the highest level in six weeks, government data showed Thursday. Initial jobless claims rose to 294,000 in the seven days ended April 11 from a revised 282,000 the prior week, the Labor Department said.

American Express Co. (AXP) on Thursday reported first-quarter net income of $1.51 billion. On a per-share basis, the New York-based company said it had net income of $1.48.T he results topped Wall Street expectations.

Advanced Micro Systems (AMD) reported weaker-than-expected first-quarter earnings and sales and predicted further revenue declines in the current quarter. The company reported a net loss of $180 million, or 23 cents a share, compared with a year-earlier loss of $20 million, or 3 cents.

Oil prices marked gains for their sixth day running Thursday. West Texas Intermediate for May delivery, the US benchmark, advanced 32 cents to close at $56.71 a barrel on the New York Stock Exchange, a fresh high since December.