NEW YORK ( TheStreet) -- Base metals are expected to trade lower Thursday as recent economic data haven't been positive for the market.In addition, Federal Reserve Chairman Ben Bernanke's comments Wednesday that the U.S. economic outlook remains unusually uncertain have pushed the U.S. and Asian markets lower. Weekly initial jobless claims reported Thursday came in at 464,000, above the consensus for 445,000. The market is looking forward to the housing data to be released later Thursday. Existing-home sales for June are expected at a 5.10 million rate, compared with the 5.66 million pace in May. However, the May house price index is seen logging a negative 0.30% reading , vs. the previous month's positive reading of 0.80%.