Stocks Opened Slightly Lower after Jobless Claims Data

U.S. stocks edged lower at the open on Thursday after the data showed new jobless claims came in higher than expected last week. The Dow Jones Industrial Average lately fell 45.81 points, or 0.17%, to 26,224.08. The S&P 500 declined 9.75 points, or 0.31%, to 3,113.12. The Nasdaq Composite retreated 19.17 points, or 0.20%, to 9,663.75.

Oil futures were headed lower Thursday, as questions about the willingness of global producers to maintain output reductions and compliance with an existing pact to stabilize prices comes into question. West Texas Intermediate crude for July delivery shed 58 cents, or 1.6%, to trade at $36.72 a barrel. Brent saw its August contract slip 29 cents, or 0.7%, to trade at $39.50 a barrel.

An additional 1.877 million Americans filed for unemployment benefits in the week ending May 30, the Labor Department said Thursday, exceeding economists’ estimates for 1.843 million initial jobless claims during the week.