U.S. Stocks Slip Despite Fall in Jobless Claims; McDonald’s Chairman Steps Down

U.S. stocks moved lower on Thursday, even as weekly jobless claims fell over the last week. The yen reached a 17-month high against the dollar, something central bankers there were hoping to prevent with negative interest rates and stimulus measures. 'The Bank of Japan would prefer a weaker yen to support their exporters and to generally support the Nikkei stock average,' said Jasper Lawler, a market analyst with CMC Markets in London. Plus, it looks like Valeant Pharmaceuticals (VRX) will avoid default as creditors agree to water down some of the terms of its debt - which totals a staggering $32 billion. Finally, McDonald's (MCD) - Get Report chairman Andrew McKenna is stepping down. He's held a spot on the board for 25 years. TheStreet's Scott Gamm reports from Wall Street.