U.S. stocks decline amid economic data

U.S. stocks traded lower in the morning session Thursday, as Wall Street digested a batch of economic data.

By midday, the Dow Jones Industrial Average dipped 91.39 points, or 0.52 percent, to 17,548.78. The S&P 500 lost 14.35 points, or 0.69 percent, to 2,057.15. The Nasdaq Composite Index went down 44.93 points, or 0.93 percent, to 4,790.00.

The Consumer Price Index for all urban consumers increased 0.2 percent in May on a seasonally adjusted basis, the U.S. Labor Department said Thursday.

The index for all items less food and energy increased 0.2 percent in May. Over the last 12 months, the index has risen 2.2 percent.

In a separate report, the department said that in the week ending June 11, the advance figure for seasonally adjusted initial claims was 277,000, an increase of 13,000 from the previous week's unrevised level of 264,000.

The four-week moving average was 269,250, a decrease of 250 from the previous week's unrevised average of 269,500.

Meanwhile, investors continued to assess the impacts of the Federal Reserve's decision to leave interest rates unchanged.

According to Wednesday's statement released after the Fed's policy meeting, the Fed still leans toward hiking rates, but its six members now believe there will be just one rate hike this year.

On Wednesday, U.S. stocks reversed early gains to end lower following the Fed's decision, with all three major indices notching a five-day losing streak. Endit