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U.S. stocks open lower amid data, Greece concerns

Xinhua, June 4, 2015 Adjust font size:

U.S. stocks opened lower on Thursday as investors were digesting the jobless claims data and the uncertainty of Greece.

In the week ending May 30, the advance figure for seasonally adjusted initial jobless claims was 276,000, a decrease of 8,000 from the previous week's revised level, in line with market estimates, said the U.S. Department of Labor Thursday.

The 4-week moving average was 274,750, an increase of 2,750 from the previous week's revised average.

Meanwhile, Wall Street was still sifting through the Federal Reserve' s Beige Book released Wednesday afternoon. According to the Beige Book, outlooks among respondents were generally optimistic, with growth expected to continue at a modest to moderate pace in several districts.

Overseas, the Greek government on Thursday expressed optimism over a "mutually acceptable" deal with international creditors on the country's debt repayment arrangements following the latest inconclusive talks in Brussels.

But Greece and its international creditors still need a few more days to clinch a deal, said Greek Prime Minister Alexis Tsipras after a marathon meeting with European Commission President Jean-Claude Juncker and Eurogroup President Jeroen Dijsselbloem.

Greece faces mounting pressure as it is due to make a repayment of 300 million euros (329 million U.S. dollars) to the International Monetary Fund on Friday.

Shortly after the opening bell, the Dow Jones Industrial Average fell 69.00 points, or 0.38 percent, to 18,007.27. The S&P 500 lost 7.89 points, or 0.37 percent, to 2,106.18. The Nasdaq Composite Index was down 20.94 points, or 0.41 percent, to 5,078.29. Endi