The Dow and S&P 500 lost ground on Thursday as some investors fretted about the quality of bank earnings, which weighed on financial shares, and after a report that IBM was not interested in further negotiations with Sun Microsystems Inc.
Shares of homebuilders <.DJUSHB> fell after data showed housing starts slumped sharply in March, signaling the economy is still gripped by the recession.
Shares of JPMorgan Chase & Co
Shares of Sun Microsystems turned negative following the report, while IBM
The Dow Jones industrial average <.DJI> added 32.25 points, or 0.40 percent, to 8,061.87. The Standard & Poor's 500 Index <.SPX> put on 4.46 points, or 0.52 percent, to 856.52. The Nasdaq Composite Index <.IXIC> was up 16.90 points, or 1.04 percent, at 1,643.70.
(Reporting by Leah Schnurr; Editing by Theodore d'Afflisio)