U.S. stocks waver amid data, oil prices

U.S. stocks traded in a narrow range on Thursday, struggling for a three-day winning streak, as investors eyed a batch of newly-released economic data and oil prices.

At midday, the Dow Jones Industrial Average shed 15.75 points, or 0.09 percent, to 17,835.76. The S&P 500 ticked down 0.14 points, or 0.01 percent, to 2,090.40. The Nasdaq Composite Index rose 1.88 points, or 0.04 percent, to 4,896.77.

U.S. new orders for manufactured durable goods in April increased 7.7 billion U.S. dollars, or 3.4 percent, to 235.9 billion dollars, the Commerce Department said Thursday. This increase, up three of the last four months, followed a 1.9 percent March increase.

In the week ending May 21, the advance figure for seasonally adjusted initial claims was 268,000, a decrease of 10,000 from the previous week' s unrevised level of 278,000, the Labor Department announced Thursday.

Oil prices turned lower in the morning session on Thursday, after U.S. crude prices topping 50 dollars a barrel for the first time this year.

Meanwhile, investors tried to shake off worries that the possibility of a June rate hike becomes higher after the release of the Federal Reserve's hawkish minutes from its April meeting.

However, the latest speech from Fed officials indicated a hike sooner rather than later.

U.S. stocks continued to rise Wednesday, as investors assessed a new bailout deal for Greece and rising oil prices. Endit