Stocks struggle | Coronavirus relief bill stalemate | Empty Manhattan apartments

Stocks turned lower Thursday as traders digested better-than-expected unemployment data and monitored the stalemate in stimulus negotiations.

VIEW IN BROWSER | SUBSCRIBE THU, AUG 13, 2020 EVENING BRIEF AS OF THU, AUG 13, 2020 • 04:30 ET DJIA 27896.72 -0.29% -80.12 S&P 500 3373.43 -0.20% -6.92 NASDAQ 11042.50 +0.27% +30.26   Most Active DOW NAME LAST CHG %CHG CSCO 42.72 -5.38 -11.19% AAPL 460.04 +8.00 +1.77% INTC 48.56 -0.63 -1.28% S&P 500 NAME LAST CHG %CHG CSCO 42.72 -5.38 -11.19% AMD 81.84 -0.77 -0.93% BAC 26.35 -0.38 -1.42% NASDAQ NAME LAST CHG %CHG CSCO 42.72 -5.38 -11.19% AMD 81.84 -0.77 -0.93% AAPL 460.04 +8.00 +1.77%   EDITOR'S NOTE Wall Street got another sign Thursday that the economy continues to recover from the coronavirus pandemic.   The Labor Department said initial weekly jobless claims fell to 963,000 in the week ended Aug. 8. That marks the first time since March that new claims came in below 1 million. It was also better than the Dow Jones estimate of 1.1 million. Continuing claims — which refer to those collecting unemployment benefits for at least two weeks — dropped by more than 600,000 to nearly 15.5 million.   "While it's impossible to argue that an economy with 25 million individuals on unemployment support is healthy, the return to a grind lower in claims is an encouraging sign," said Ian Lyngen, head of U.S. rates at BMO. The positive data was not enough to push the broader stock market meaningfully higher as the S&P 500 continued its struggles in reaching its Feb. 19 record high. The index briefly traded above its record closing high before dipping back below it.   Thursday's action saw more bifurcation between the major tech names and the so-called reopening trade. Facebook, Apple, Netflix, and Alphabet were all higher. American Airlines, Delta and Gap declined.   Concern over a new coronavirus stimulus bill also dampened market optimism on Thursday. White House economic advisor Larry Kudlow told CNBC's "Squawk on the Street" that the administration and Democrats were at a "stalemate" over the relief package.   Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. Fred Imbert | CNBC Markets Reporter @foimbert TOP NEWS  S&P 500 closes lower as run to record high falls short again Coronavirus relief stalemate could drag on for weeks U.S. weekly jobless claims fall to 963,000, first time below 1 million since mid-March Divided stock market can't seem to set a new record high Amazon cuts more than 1,200 delivery contract jobs, even as that part of its business booms Here's how Robinhood is raking in record cash on customer trades — despite making it free Empty apartments in Manhattan reach record high, topping 13,000 Hedge funds are betting big against stocks that would benefit from the economy reopening Apple kicks Fortnite out of App Store for challenging payment rules Biden looks to former Fed Chair Yellen for economic advice   TOP VIDEO NEC Director Larry Kudlow on 'Democratic asks' in stimulus negotiations   CNBC PRO Goldman puts buy rating on Penn Gaming, sees big upside as Barstool Sports helps it grab customers   SPECIAL REPORTS One S&P 500 sector has taken over tech's leadership in past month There's more pain in store for gold and silver short term, trader warns   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2020 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS