Stocks Opened Slightly Lower after Jobless Claims Data

U.S. stocks opened slightly lower on Thursday after data showed that fewer people applied for unemployment insurance in the latest week. The Dow Jones Industrial Average lately fell 25.52 points, or 0.09%, to 27,176.00. The S&P 500 was off 5.19 points, or 0.16%, to 3,322.58. The Nasdaq Composite declined 20.41 points, or 0.19%, to 10,977.98.

Oil futures lost ground Thursday, pulling back from five-month highs, as analysts assessed signs of lackluster fuel demand. West Texas Intermediate crude for September delivery was down 35 cents, or 0.8%, at $41.84 a barrel. October Brent crude was off 5 cents, or 0.1%, at $45.12 a barrel.

The number of new unemployment insurance claims improved last week to a pandemic-era low but held above 1 million yet again, as the coronavirus outbreak continues to weigh on the pace of recovery in the labor market. New applications for unemployment benefits, a rough gauge of layoffs, slipped for the first time in three weeks to 1.19 million from 1.44 million, the Labor Department said Thursday.