WASHINGTON (dpa-AFX) - Wall Street turned in a mixed performance on Thursday after a strong session a day earlier, with the NASDAQ and the S&P 500 opening higher and hitting fresh record closing highs.
Conversely, the Dow opened in the red and remained under water throughout the day, weighed by losses from heavyweight IBM, which may be facing an investigation into billing practices.
The Dow stumbled 316.38 points or 0.70 percent to finish at 44,693.91, while the NASDAQ gained 37.94 points or 0.18 percent to close ar 21,057.96 and the S&P 500 rose 4.44 points or 0.07 percent to end at 6,363.35.
The early strength on Wall Street came on optimism that the U.S. could sign up more deals with its remaining trading partners before President Donald Trump's Aug. 1 deadline.
As UK, China, Vietnam, and Indonesia have come to an agreement with the U.S. already, Canada, India, South Korea, and the EU are ramping up their efforts. U.S. Secretary of the Treasury Scott Bessent reportedly said that the talks were 'going better than they had been,' and that progress was being made.
In U.S. economic news, the Commerce Department said that new home sales in the U.S. rebounded less than expected in June. Also, the Labor Department said U.S. initial jobless claims unexpectedly fell last week.
European stocks closed mixed on Thursday after paring most of their early gains, after the European Central Bank left its interest rate unchanged for the first time in a year.
The pan European Stoxx 600 gained 0.24 percent. The U.K.'s FTSE 100 climbed 0.85 percent, Germany's DAX closed up 0.23 percent and France's CAC 40 drifted down 0.41 percent. Switzerland's SMI ended 0.26 percent down.
Crude oil rose on Thursday after the U.S. Energy Information Administration said crude stockpiles declined more than expected last week. West Texas Intermediate crude for September was up $0.87 or 1.33 percent to $66.12 per barrel.
Gold prices continued to fall on Thursday for the second straight session, amid diminishing the demand for safe-haven assets. Front Month Comex Gold for July delivery fell by $23.10 (or 0.68 percent) to $3,371.00 per troy ounce.
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