April 03, 2014- Stocks Close Lower on Weak US Jobless Data

After initially showing a lack of direction, stocks have moved mostly lower over the course of the trading day on Thursday. The pullback is partly offsetting the upward move seen over the past few sessions, although selling pressure has remained relatively subdued. The major averages have all slid into negative territory, with the tech-heavy Nasdaq showing a notable drop. While the Nasdaq is down 25.50 points or 0.6 percent at 4,250.96, the Dow is down 18.56 points or 0.1 percent at 16,554.44 and the S&P 500 is down 3.38 points or 0.2 percent at 1,887.52. Profit taking may be contributing to the weakness on Wall Street after both the Dow and the S&P 500 hit record intraday highs earlier in the session.