U.S. stocks trade lower amid mixed data, Fed statement

U.S. stocks traded lower in the morning session on Thursday, as investors weighed mixed data after the Federal Reserve offered no signal of any rates hike.

At noon, the Dow Jones Industrial Average was down 92.05 points, or 0.51 percent, to 17,943.48. The S&P 500 shed 12.42 points, or 0. 59 percent, to 2,094.43. The Nasdaq Composite Index fell 52.11 points, or 1.04 percent, to 4,971.54.

In the week ending April 25, the advance figure for seasonally adjusted initial claims was 262,000, a decrease of 34,000 from the previous week's revised level, the U.S. Labor Department said Thursday. This is the lowest level for initial claims since April 15, 2000.

The strong job data came a day after the central bank downgraded its view of the U.S. labor market and economy in a two- day policy statement.

Officials focused mainly on the country's economic weakness in recent months, saying U.S. economic growth has "slowed" since last Fed meeting in March.

The Federal Open Market Committee on Wednesday offered no changes to its zero interest rate policy, which lowered market expectations for an interest rate hike as soon as June.

U.S. real gross domestic product (GDP) increased at an annual rate of 0.2 percent in the first quarter this year, according to an advanced estimate released by the U.S. Commerce Department Wednesday.

The first quarter GDP showed a sharp slowdown from the fourth quarter's 2.2 percent pace and below the expected 1 percent growth. Enditem