Stocks cut earlier losses on Thursday, supported by gains in blue chips, which have been rallying toward the end of the quarter as money managers chase performance.

The Dow Jones industrial average <.DJI> dropped 8.66 points, or 0.07 percent, to 13,117.55. The S&P 500 Index <.SPX> fell 4.24 points, or 0.30 percent, to 1,401.30. The Nasdaq Composite Index <.IXIC> lost 10.66 points, or 0.34 percent, to 3,094.30.

The Nasdaq had earlier fallen 1 percent and the Dow had been down as much as 0.7 percent.

(Reporting by Rodrigo Campos; Editing by Jan Paschal)