U.S. stocks edge lower despite upbeat jobless data; Dow Jones down 0.02%

Investing.com - U.S. stocks edged lower on Thursday, despite data showing that U.S. initial jobless claims fell sharply last week, to hit the lowest level since 2006, while developments in Syria continued to remain at the center of attention.

During early U.S. trade, the Dow Jones Industrial Average dipped 0.02%, the S&P 500 index fell 0.15%, while the Nasdaq Composite index edged down 0.18%.

The Department of Labor said the number of people who filed for unemployment assistance in the U.S. fell by 31,000 to a seasonally adjusted 292,000 from 323,000 in the previous week.

However, the report said the decline was largely due to two states not processing all claims received because of computer upgrades.

Markets were also focusing on developments on the Syrian front, as U.S. Secretary of State John Kerry and his Russian counterpart Sergei Lavrov were to meet in Geneva later in the day to discuss Moscow's suggestion that Syria surrender its chemical weapons to international control.

Facebook climbed 0.64%, after the company's stock climbed over a 3% to an all-time high on Wednesday, as investors bet the company will benefit from growing demand for its mobile-advertising products.

Also in the Internet field, Yahoo! Chief Executive Officer Marissa Mayer said the Web portal has surpassed 800 million active monthly users, marking a 20% increase since she joined the company in July 2012.
Yahoo shares rallied 1.75% following the news.

Qualcomm added to gains, advancing 0.87%, after the semiconductor company said its board authorized a new USD5 billion share repurchase program to return more money to investors.

Elsewhere, Royal Caribbean surged 2.71% after the cruise line operator more than doubled its quarterly dividend to 25 cents per share from 12 cents a share.

Among earnings, Lululemon Athletica beat estimates for the second quarter but cut its full-year forecasts, sending shares in the yogawear retailer plunging 6.84%.

Kroger jumped 1.44% after the grocery-store chain posted quarterly results that matched expectations and lifted the lower end of its same-store sales guidance.

Across the Atlantic, European stock markets were mixed to higher. The EURO STOXX 50 added 0.10%, France’s CAC 40 slipped 0.23%, Germany's DAX inched 0.01% higher, while Britain's FTSE 100 eased up 0.04%.

During the Asian trading session, Hong Kong's Hang Seng Index edged up 0.07%, while Japan’s Nikkei 225 Index slid 0.26%.