Stocks fall as Europe indexes take ECB hit
U.S. stocks ended lower Thursday, taking a cue from Europe after Europe's central bank held off on implementing a U.S.-style stimulus.
The Dow Jones Industrial Average DJIA ended down 13 points, or 0.1%, at 17,900.10. The S&P 500 SPX and Nasdaq Composite COMP also both lost 0.1%.
In Asia earlier, China's Shanghai Composite index took a giant leap -- rocketing 4.3% higher. Japan's Nikkei 225 index added 0.9%.
The number of people seeking unemployment benefits slipped below 300,000 last week, after having spiked above that level in the prior week for the first time in nearly three months.
European Central Bank head Mario Draghi says the bank has "stepped up" preparations for launching new stimulus measures for the economy — but expects to make a decision on any further steps early next year.
Draghi didn't unveil further stimulus programs on Thursday after the bank left its benchmark interest rate unchanged at 0.05%. The rate decision was expected as the bank says the benchmark is so low it cannot be reduced further.
The DAX of Germany and the CAC 40 of France ended down 1.2% and 1.6%, respectively, after having been positive before the ECB's announcement and Draghi's news conference.
Sears Holdings (SHLD) posted a disappointing third quarter Thursday that saw revenue, earnings, and sales at stores open at least a year all fall as the retailer tries to salvage its business. Sears shares fell 4.4%.
Both Chinese and Japanese shares rose sharply as the dollar traded at its strongest level against the yen since 2007. The greenback briefly touched 119.95 yen before falling back slightly.
Gold prices slipped while oil futures climbed.
On Wednesday, the Dow and S&P 500 notched all-time closing highs as economic reports showed steady growth on jobs and in other fronts.
On Friday, the Labor Department will release its closely watched survey on employment, expected to show 225,000 payroll gains by businesses, as well as federal, state and local governments.
Contributing: The Associated Press.