The S&P 500 was down 0.13% on Thursday, the Dow Jones Industrial Average fell 0.06%, and the Nasdaq slid 0.14%.
Netflixrocketed more than 14% higher after beating earnings estimates and posting sales growth of nearly 24%. The streaming giant said it added 2.3 million U.S. members, above guidance of 1.8 million, and 2.6 million new international members, above guidance of 2.25 million, in the first quarter.
Etsy (ETSY) - Get Report surged in its market debut on the Nasdaq, opening trading at $30.98 a share. The company's initial public offering was priced at $16 a share, at the top end of the indicative range, pushing total valuation to $1.78 billion.
The Philadelphia Fed manufacturing index rose to a reading of 7.5 in April from 5 in March, a result indicative of improving conditions. The measure came in above estimates for a reading of 6.
Construction of new U.S. homes rebounded in March, though at a slower-than-expected pace. Housing starts rose 926,000 in March from 908,000 in February. Economists were expecting housing starts of 1.04 million.
Weekly jobless claims rose 12,000 to a six-week high of 294,000, according to the Labor Department. The number of people who applied for unemployment benefits was expected to remain steady at 281,000. Continuing claims, measuring the number of people currently receiving benefits, fell by 40,000 to 2.27 million in the week ended April 4, the lowest level since December 2000.
"We believe the outsized jump in weekly claims was largely due to seasonal adjustment issues, with the Labor Department typically struggling to adjust claims during the volatile spring break period," said Cheng Chen, U.S. strategist at TD Securities. "We highlight that the ongoing improvement in continuing claims remains encouraging amid more positive labor market dynamics, suggesting that workers are not simply leaving the labor force but are likely finding gainful employment."
West Texas Intermediate crude fell 1% to $55.83 a barrel on Thursday. The commodity had rallied nearly 6% on Wednesday to notch its highest close of the year after the International Energy Agency forecast stronger demand for oil this year and weekly U.S. crude inventories saw a smaller increase than expected.
SanDisk (SNDK) reported first-quarter earnings of 62 cents a share, 4 cents less than estimates, while sales slid 12% to $1.33 billion. The company announced plans to reduce costs as it faces tepid demand for flash-based memory chips. Shares slumped 6%.
Citigroup (C) - Get Report added more than 2% after net income jumped to $1.52 a share from $1.30 a year earlier. The bank said its global consumer banking segment saw profit increase 4% to $1.73 billion, despite a 7% decline in revenue.
Party City (PRTY) - Get Report opened for trading on the Nasdaq at $20.50 a share, above its IPO pricing of $17 a share. The float is estimated to generate around $372 million, valuing the company at $1.97 billion.
High-frequency trading company Virtu Financial will begin trading on the Nasdaq under the ticker 'VIRT'. The shares were priced at $19 a share, at the top of a projected range. The float is expected to value Virtu at $2.6 billion.
European markets were lower on continued troubles in Greece. Standard & Poor's downgraded Greece's credit rating to CCC+ with a negative outlook as the debt-ravaged nation barrels toward an end-of-month deadline to repay debts to European creditors.
Greek Finance Minister Yanis Varoufakis is set to meet with Greece's creditors this week, though German Finance Minister Wolfgang Schaeuble has reportedly expressed doubts a deal can be reached by week's end.
On Wednesday, European Central Bank President Mario Draghi reiterated commitment to a 1 trillion-euro bond-buying program to jump-start an economic recovery in the eurozone.