NEW YORK, Sept. 5 (Xinhua) -- U.S. stocks ended mixed on Thursday, as investors dumped risk assets and concerns mounted over the outlook for the U.S. economy ahead of Friday's keynote labor report.
The Dow Jones Industrial Average fell 219.22 points, or 0.54 percent, to 40,755.75. The S&P 500 sank 16.66 points, or 0.30 percent, to 5,503.41. The Nasdaq Composite Index increased 43.37 points, or 0.25 percent, to 17,127.66.
Eight of the 11 primary S&P 500 sectors ended in red, with health and industrials leading the laggards by losing 1.39 percent and 1.18 percent, respectively. Meanwhile, consumer discretionary and communication services led the gainers by rising 1.41 percent and 0.52 percent, respectively.
U.S. initial jobless claims dropped by 5,000 to 227,000 for the week ending Aug. 31, according to a Labor Department report released Thursday. This had marked the lowest number of claims since the week of July 6, when 223,000 Americans filed for unemployment benefits. The figure also came in below the 230,000 claims that analysts had anticipated.
The four-week moving average of claims, which helps smooth out week-to-week fluctuations, decreased by 1,750 to 230,000, marking its lowest level since early June. Overall, weekly unemployment filings, seen as an indicator of layoffs, remained at relatively low levels.
In corporate news, Tesla surged 4.9 percent following the announcement of plans to roll out its full self-driving software in Europe and China by early next year. Meanwhile, Frontier Communications plunged 9.5 percent after Verizon revealed it would acquire the company in a 20-billion-U.S.-dollar deal, valuing Frontier below its previous closing price. Verizon shares dipped slightly, falling 0.41 percent.
