) -- Stocks finished Thursday under broad pressure and near their lows of the session as a spate of recent data soured investors' sentiment about the economic landscape.


Dow Jones Industrial Average

finished the day lower by 146 points, or 1.4% at 10,153. The

S&P 500

shed 18 points, or 1.7%, at 1074 and the


fell off by 37 points, or 1.6%, at 2217.

"All of it is sort of related to weaker than expected economic data," said Art Hogan, chief market strategist at Jefferies, who said the mood could linger until investors get a read on the government's June jobs report and the next batch of significant earnings.

Following disappointing housing stats unveiled earlier in the week, the


offered more tempered rhetoric about the recovery, and after today's jobs and durable goods data appeared to offer little traction, Hogan said, "clearly, investors are concerned about the pace of the economic recovery, and the view in the month of May is discouraging to the say the least."

"Right now, the market is going to shoot first and ask questions later," he added.

Mike Shea, managing partner at Direct Access Partners, pointed to Friday's rebalancing of the Russell indices as one possible reason for the session's weakness.

"The U.S. markets can sometimes trade a little squirrelly in the week of the Russell rebalancing as trading houses get themselves in shape ahead of the rebalance," he said, adding that markets weren't helped by Thursday's lackluster data.

Overseas on Thursday, Hong Kong's Hang Seng slipped 0.6% lower while Japan's Nikkei inched up by 0.05%. The FTSE in London lost 1.5%, and the DAX in Frankfurt shed 1.4%.

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The Economy

The Labor Department said initial jobless claims shed 19,000 to 457,000 in the week ended June 19, from 476,000 previously. Economists had been expecting claims of 460,000, according to


The Department of Commerce reported a slightly larger-than-expected decline of 1.1% to durable goods orders in May, which follows a jump of 3% in April. Economists had projected a 1.3% decline. Excluding transportation-related orders, May's level grew 0.9%, which was lower than the 1.3% increase that the market had been looking for and compares to a decline of 0.8% in April.

The Energy Information Administration said natural gas supply levels rose by 81billion cubic feet in the week ended June 18. The increase was within analysts' expected injection range of 78 to 82 billion cubic feet, according to a Platts poll.


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Company News

Johnson & Johnson

(JNJ) - Get Report



(MRK) - Get Report

were the only Dow components in positive territory as the equities fell in a broad-based decline that appeared to more squarely hit energy, consumer, semiconductor and banking names.

The financial sector, in particular, found little relief from various news stories reporting House and Senate lawmakers are attempting to wrap-up negotiations on a financial regulatory reform package by this evening.


(PFE) - Get Report



(AA) - Get Report

were among the Dow's worst-performing stocks, as were

Home Depot

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Bank of America

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American Express

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(AXP) - Get Report



(AAPL) - Get Report

iPhone 4 hit stores in the U.S., France, Germany, Japan and the U.K. on Thursday. But the stock ended $1.97 lower, or 0.7%, at $269.


(BA) - Get Report

St. Louis-based defense division has launched a series of entrepreneurial efforts aimed at creating start-ups.

ConAgra Foods

(CAG) - Get Report

reported fourth-quarter earnings that fell short of Wall Street estimates and said it anticipates that the next fiscal year's earnings growth will be concentrated in the second half of the year.



(LEN) - Get Report

swung to a second-quarter profit on improved operating margins. The company also said new sales orders fell.


(BP) - Get Report

said the oil containment system it has been using has been reinstalled and is once again collecting oil and gas. On Wednesday, the system went offline after a collision with a robotic submarine, causing oil and gas to gush into the Gulf of Mexico for about 10 hours.

Morgan Stanley

(MS) - Get Report

reached a $103 million settlement, based on allegations by Massachusetts prosecutors that the bank backed dicey subprime mortgages it knew to be such, according to a report from

The Associated Press


After the closing bell, shares of


(ORCL) - Get Report

were moving higher after unveiling laudable fourth-quarter numbers and beating adjusted earnings per share expectations by 4 cents, landing at 60 cents a share.

But despite surpassing EPS expectations of its own late today,


Research in Motion


offered underwhelming first-quarter sales numbers that appeared to drag down shares in after-hours trading.


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Commodities and the Dollar

Following the EIA's supply report, the July natural gas contract shed nearly 6 cents to settle at almost $4.75 per million British thermal units. Meanwhile, crude oil for August delivery settled 16 cents higher at $76.51 a barrel.

Elsewhere in commodity markets, the August gold contract traded $11.10 higher to finish at $1,245.90 an ounce.

The dollar was trading lower against a basket of currencies, with the

dollar index down by 0.02%.


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The Treasury Department auctioned off $30 billion in 7-year notes, resulting in a bid-to-cover at 3.01, or the highest since the beginning of 2009, according to MarketWatch. The auction also brought in a yield at 2.575%.

The benchmark 10-year Treasury was higher by 1/32, diluting the yield to 3.123%.

The two-year note rose advanced 1/32, dragging the yield down to 0.672%. The 30-year bond slipped 12/32, increasing the yield to 4.091%.

--Written by Melinda Peer and Sung Moss in New York



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