US close: Markets end red despite solid jobless claims data

US indices finished lower across the board on Thursday, despite better-than-expected readings on jobless claims and factory gate prices, with investors apparently playing it safe as the Wall Street trio continue to push nearer their record highs.

The Dow Jones Industrial Average lost 0.29% to 25,509.23, the S&P 500 was off 0.14% at 2,853.58, and the Nasdaq 100 slipped 0.04% to 7,466.96.

“The tech-focused [Nasdaq 100] index has been the best performer of the major US indices,” said David Madden at CMC Markets earlier.

“The Dow Jones and S&P 500 have experienced low volatility, but both have been broadly pushing higher recently.”

In economic news, the year-on-year rate of gains in factory gate prices slipped to 3.3% in July from 3.4% for June, even as at the core level the pace of gains picked-up from 2.7% to 2.8%, as expected.

According to Mickey Levy at Berenberg Capital Markets, the main upshot of the figures was that price pressures remained moderate.

"Despite the slight tick up in July, core PPI 12-mth inflation has remained in a 2.5-2.9% range since January, suggesting that the pipeline of broader inflationary pressures remains moderate," Levy said in a research note sent to clients.

The Department of Labor reported that initial jobless claims dropped by 6,000 during the week ending on 4 August to reach 213,000, beating Barclays forecasts for a reading of 220,000.

According to Pantheon Macroeconomics, the figures might be indicative of another shift lower in the unemployment trend as companies try and retain workers, given how hard it is to replace them.

On the corporate front, Walt Disney was in the spotlight after the entertainment giant's latest quarterly earnings fell short of analysts' forecasts.

However, Disney chief Robert Iger said that paid subscriptions were strong and that subscription growth for its ESPN+ streaming service was exceeding its expectations.

Mickey Mouse’s shares ended the session 0.16% higher.

Elsewhere in the sector, Viacom shares were 6.01% higher despite the company's mixed update for its fiscal third quarter.

Analysts at Morgan Stanley were reportedly speculating that Berkshire Hathaway might buy one of America's airlines, possibly popular low-cost carrier Southwest Airlines.

Southwest shares were 0.29% by the closing bell.

Norwegian Cruise Lines was one of the standout performers on the S&P 500, rising 4.13% after the company lifted its guidance after posting better-than-expected profits and sales for its latest quarter.

Stock in digital video recording and streaming technology firm TiVo pushed 1.65% higher after management said they were exploring strategic alternatives, including a potential sale.

The announcement helped to offset the impact of weaker than forecast second revenues of $160.2m, which were 8% weaker than a year ago.

Worldpay was also trading sharply higher, finishing up 8.7% on the back of its second quarter update.

Dow Jones - Risers

Dowdupont Inc. (DWDP) $69.02 2.01%
Unitedhealth Group Inc. (UNH) $261.59 1.07%
Nike Inc. (NKE) $81.26 0.94%
Apple Inc. (AAPL) $208.88 0.79%
Verizon Communications Inc. (VZ) $53.01 0.59%
Coca-Cola Co. (KO) $46.35 0.43%
Intel Corp. (INTC) $50.14 0.36%
Travelers Company Inc. (TRV) $129.56 0.27%
McDonald's Corp. (MCD) $159.30 0.24%
American Express Co. (AXP) $102.99 0.20%

Dow Jones - Fallers

International Business Machines Corp. (IBM) $144.77 -1.44%
Boeing Co. (BA) $343.72 -1.17%
Walmart Inc. (WMT) $89.01 -1.15%
Procter & Gamble Co. (PG) $81.40 -1.15%
3M Co. (MMM) $204.78 -1.14%
Goldman Sachs Group Inc. (GS) $233.78 -1.10%
Chevron Corp. (CVX) $122.49 -1.09%
Merck & Co. Inc. (MRK) $66.01 -1.03%
Pfizer Inc. (PFE) $41.01 -0.97%
Caterpillar Inc. (CAT) $138.50 -0.85%

S&P 500 - Risers

Dun & Bradstreet Corp. (DNB) $142.21 15.81%
CenturyLink Inc. (CTL) $20.97 13.11%
Flowserve Corp. (FLS) $48.87 6.40%
Viacom Inc. Class B (VIAB) $30.34 6.01%
Mallinckrodt Plc Ordinary Shares (MNK) $30.70 4.67%
Frontier Communications Co. (FTR) $5.24 4.59%
Coca-Cola European Partners Limited (CCE) $42.63 4.26%
Express Scripts Holding Co (ESRX) $81.82 3.73%
Royal Caribbean Cr (RCL) $114.19 2.79%
Monster Beverage Corp (MNST) $60.98 2.66%

S&P 500 - Fallers

Perrigo Company plc (PRGO) $70.04 -10.55%
Seagate Technology Plc (STX) $51.02 -7.30%
Murphy Oil Corp. (MUR) $30.16 -7.23%
Mylan Inc. (MYL) $36.61 -6.68%
Apache Corp. (APA) $43.29 -6.14%
Booking Holdings Inc. (BKNG) $1,942.39 -5.02%
Occidental Petroleum Corp. (OXY) $77.77 -4.22%
Transocean Ltd. (RIG) $12.41 -4.02%
Deere & Co. (DE) $139.83 -3.44%
Hess Corp. (HES) $64.00 -2.93%

Nasdaq 100 - Risers

Mercadolibre Inc. (MELI) $384.39 11.60%
Express Scripts Holding Co (ESRX) $81.82 3.73%
Monster Beverage Corp (MNST) $60.98 2.66%
Charter Communications Inc. (CHTR) $305.17 2.34%
Dish Network Corp. (DISH) $36.59 2.06%
Gilead Sciences Inc. (GILD) $78.04 1.47%
Fiserv Inc. (FISV) $78.64 1.37%
Comcast Corp. (CMCSA) $35.49 1.26%
Incyte Corp. (INCY) $64.38 1.21%
Dollar Tree Inc (DLTR) $92.70 1.18%

Nasdaq 100 - Fallers

NetEase Inc. Ads (NTES) $225.22 -10.97%
Seagate Technology Plc (STX) $51.02 -7.30%
Mylan Inc. (MYL) $36.61 -6.68%
Booking Holdings Inc. (BKNG) $1,942.39 -5.02%
Tesla Inc (TSLA) $352.45 -4.83%
Lam Research Corp. (LRCX) $184.49 -2.91%
Costco Wholesale Corp. (COST) $218.24 -2.82%
Micron Technology Inc. (MU) $52.26 -2.12%
Applied Materials Inc. (AMAT) $49.16 -2.03%
Asml Holdings N.V. (ASML) $209.17 -1.80%