Stocks opened Flat anf Turned Negative

U.S. stocks opened flat and turned negative on Thursday, with investors searching for a further catalyst to scale fresh heights.The Dow Jones Industrial Average lately fell 19.46 points, or 0.09%, to 21,996.78. The S&P 500 lost 5.58 points, or 0.23%, to 2,471.99. The Nasdaq Composite was down 13.063 points, or 0.21%, to 6,349.58.

Oil futures erased losses on Thursday, driven higher by an ultimately bullish view by investors on weekly U.S. inventory data.
Light, sweet crude futures for delivery in September climbed 17 cents, or 0.3%, to $49.75 a barrel. October Brent crude rose 22 cents, or 0.4%, to $52.59 a barrel.

Applications for unemployment benefits fell in late July and remained near a 44-year low, highlighting the strength of a U.S. labor market that’s showing little sign of waning. Initial jobless claims from July 23 to July 29 declined by 5,000 to 240,000, the Labor Department said Thursday.

Avon Products Inc. (AVP) reported a surprise loss and revenue decline and said its Chief Executive Sheri McCoy was stepping down. The net loss for the quarter to June 30 was $45.5 million, or 12 cents a share, after a profit of $33.0 million, or 6 cents a share, in the same period a year ago. Revenue fell to $1.40 billion from $1.43 billion.