U.S. stocks extend losses amid economic data

U.S. stocks reversed gains to end slightly lower Thursday, as Wall Street digested a batch of economic reports.

The Dow Jones Industrial Average fell 13.90 points, or 0.07 percent, to 19,819.78. The S&P 500 edged down 0.66 point, or 0.03 percent, to 2,249.26. The Nasdaq Composite Index decreased 6.47 points, or 0.12 percent, to 5,432.09.

In the week ending Dec. 24, the advance figure for seasonally adjusted initial claims was 265,000, a decrease of 10,000 from the previous week's unrevised level of 275,000, said the Labor Department Thursday.

The 4-week moving average was 263,000, a decrease of 750 from the previous week's unrevised average of 263,750.

The U.S. Commerce Department announced Thursday that the international trade deficit was up 3.4 billion U.S. dollars from 61.9 billion dollar in October to 65.3 billion dollars in November, exceeding markets estimates.

Meanwhile, after the Dow Jones drifted away from the 20,000 mark Wednesday, analysts said the Santa rally, which runs from Dec. 24, 2016 to Jan. 4, 2017, has run out of steam.

Overseas, European equities closed mixed Thursday. German benchmark DAX index at Frankfurt Stock Exchange inched down 0.21 percent, while British benchmark FTSE 100 Index added 0.20 percent.

In Asia, Tokyo shares dropped on Thursday as the Japanese yen rose against the U.S. dollar. The 225-issue Nikkei Stock Average lost 1.32 percent to 19,145.14 points. Enditem