Stocks Opened Lower With Trade Talks in Mind

U.S. stocks opened lower on Thursday, as reports of progress toward tangible commitments for a trade deal between the U.S. and China failed to provide a lasting boost to stocks. The Dow Industrial Average lately fell 67.06 points, or 0.26%, to 25,887.38. The S&P 500 was down 8.70 points, or 0.31%, to 2,776.00. The Nasdaq Composite declined 20.35 points, or 0.27%, to 7,468.72.

Oil prices drifted in and out of positive territory Thursday, sticking close to their highest finish in three months for the U.S. benchmark. April WTI traded at $57.17 a barrel. April Brent slipped 4 cents, or less than 0.1%, at $67.04 a barrel.

The United States and China have started to outline commitments in principle on the stickiest issues in their trade dispute, marking the most significant progress yet toward ending a seven-month trade war, according to sources familiar with the negotiations.

The number of people who applied for jobless benefits in mid-February fell sharply and returned near post-recession lows, suggesting the U.S. labor market is still going strong and keeping the economy on firm footing. Jobless claims fell by 23,000 to a seasonally adjusted 216,000 in the seven days ended Feb. 16, the government said Thursday.

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