NEW YORK (AA) – Wall Street closed lower Thursday for the fifth trading day in a row as oil prices extended their losses and macroeconomic data disappointed analysts.
Oil prices continued to decline with oversupply worries in the U.S. after the country's crude inventories recorded their largest build up since 1982.
At the final bell, the American benchmark was trading at $44.68 -- a 1.5 percent loss. International benchmark was at $46.38 -- a 1 percent decline.
Initial jobless claims in the U.S. climbed to 265,000 for the week ending Oct. 29, according to the Labor Department. It was the highest level since the beginning of August.
At the market closing, the Dow was 28 points lower at 17,931 and the Nasdaq was down 47 points to 5,058.
The S&P 500 lost nine points to finish the day at 2,088, posting its eight straight loss and marking its longest losing streak since October 2008.