S&P 500 stalls in economic data offset, ahead of Fed chair's speech

The Dow Jones Industrial Average rose 49.51 points, or 0.19%, to 26,252.24, the S&P 500 lost 1.48 points, or 0.05%, to 2,922.95 and the Nasdaq Composite dropped 28.82 points, or 0.36%, to 7,991.39.

NEW YORK: The benchmark S&P 500 ended little changed on Thursday as a fall in U.S. jobless claims offset data showing a contraction in U.S. manufacturing activity while investors awaited Federal Reserve Chair Jerome Powell's speech on Friday for clues on the central bank's monetary policy.

Data from the U.S. Labor Department showed initial claims for state unemployment benefits dropped more than expected last week, suggesting the labor market was holding firm despite a manufacturing slowdown and concerns the economy is on a path toward recession.