US close: Stocks weaker as investors keep watch on Jackson Hole

Wall Street stocks were in the red at the closing bell Thursday, as the Federal Reserve's two-day summit in Wyoming kicked off.

At the close, the Dow Jones Industrial Average was down 0.54% at 35,213.12, as the S&P 500 lost 0.58% to 4,470.00 and the Nasdaq Composite was off 0.64% at 14,945.81.

The Dow closed 192.38 points lower on Thursday, reversing some of the gains recorded in the previous session.

Thursday's primary focus was the Federal Reserve's much-anticipated Jackson Hole symposium, with investors holding out to see if Fed heads provide some sort of update on their plans regarding tapering monetary stimulus at the meeting’s conclusion on Friday.

On the macro front, the number of Americans filing for unemployment benefits rose a little more than expected last week but remained near a pandemic low, according to figures released by the Labor Department.

US initial jobless claims pushed up by 4,000 to 353,000 from the previous week’s level, which was revised up by 1,000.

Meanwhile, the four-week moving average fell by 11,500 from the previous week's level, which was revised up by 250, and continuing jobless claims declined by 3,000 from the previous week to 2.86m.

Elsewhere, the Commerce Department showed that US GDP rose at an annualised pace of 6.6% in the second quarter, coming in ahead of an initial estimate of 6.5% but a touch below analysts' expectations for 6.7% growth.

That followed 6.3% growth in the previous quarter.

In the corporate space, discount retailer Dollar General was down 3.77% even after it posted second-quarter earnings and revenues that beat expectations.

Dell Technologies closed down 0.5%, and HP lost 0.99%, ahead of both firms reporting after the close.

Dow Jones - Risers

Salesforce.Com Inc. (CRM) $267.79 3.13%
American Express Co. (AXP) $165.51 2.67%
JP Morgan Chase & Co. (JPM) $161.75 2.59%
Goldman Sachs Group Inc. (GS) $412.39 0.94%
Dow Chemical Co. (DOW) $63.69 0.62%
3M Co. (MMM) $195.32 0.29%
Honeywell International Inc. (HON) $230.94 0.00%
Dowdupont Inc. (DWDP) $30.52 0.00%
Cisco Systems Inc. (CSCO) $59.20 -0.20%
Travelers Company Inc. (TRV) $160.00 -0.42%

Dow Jones - Fallers

Boeing Co. (BA) $216.50 -2.23%
Nike Inc. (NKE) $166.92 -1.80%
Visa Inc. (V) $230.42 -1.59%
Unitedhealth Group Inc. (UNH) $416.92 -1.55%
Merck & Co. Inc. (MRK) $76.57 -1.48%
Apple Inc. (AAPL) $147.54 -1.39%
Amgen Inc. (AMGN) $221.47 -1.30%
Intel Corp. (INTC) $53.13 -1.26%
Johnson & Johnson (JNJ) $173.30 -1.19%
Microsoft Corp. (MSFT) $299.09 -1.17%

S&P 500 - Risers

Coty Inc. Class A (COTY) $9.44 15.54%
NetApp Inc. (NTAP) $86.15 6.65%
Microchip Technology Inc. (MCHP) $155.94 5.33%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $388.68 3.97%
eBay Inc. (EBAY) $75.64 3.84%
Fortinet Inc. (FTNT) $310.13 3.43%
State Street Corp. (STT) $92.50 3.27%
Deere & Co. (DE) $379.72 3.21%
FMC Corp. (FMC) $93.60 3.14%
Salesforce.Com Inc. (CRM) $267.79 3.13%

S&P 500 - Fallers

Nordstrom Inc. (JWN) $28.51 -24.60%
Dollar Tree Inc (DLTR) $93.48 -11.15%
Gap Inc. (GPS) $26.35 -9.20%
Autodesk Inc. (ADSK) $310.19 -9.05%
PVH Corp. (PVH) $105.80 -4.38%
Nucor Corp. (NUE) $118.06 -4.21%
Macy's Inc. (M) $22.54 -4.00%
Campbell Soup Co. (CPB) $40.39 -3.78%
Ross Stores Inc. (ROST) $119.25 -3.67%
Harley-Davidson Inc. (HOG) $39.17 -3.59%

Nasdaq 100 - Risers

Microchip Technology Inc. (MCHP) $155.94 5.33%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $388.68 3.97%
eBay Inc. (EBAY) $75.64 3.84%
Western Digital Corp. (WDC) $62.57 2.98%
JD.com, Inc. (JD) $77.04 2.42%
Biomarin Pharmaceutical Inc. (BMRN) $78.82 2.05%
Booking Holdings Inc. (BKNG) $2,276.80 1.96%
KLA-Tencor Corp. (KLAC) $333.75 1.75%
Liberty Global plc Series A (LBTYA) $28.24 1.55%
Liberty Global plc Series C (LBTYK) $28.35 1.47%

Nasdaq 100 - Fallers

Dollar Tree Inc (DLTR) $93.48 -11.15%
Autodesk Inc. (ADSK) $310.19 -9.05%
Ross Stores Inc. (ROST) $119.25 -3.67%
T-Mobile Us, Inc. (TMUS) $137.58 -3.45%
Take-Two Interactive Software Inc. (TTWO) $158.88 -3.02%
Marriott International - Class A (MAR) $133.67 -2.35%
Align Technology Inc. (ALGN) $696.56 -2.28%
Paypal Holdings Inc (PYPL) $273.62 -2.11%
Biogen Inc (BIIB) $342.24 -2.05%
Henry Schein Inc. (HSIC) $74.13 -1.93%