(CNBC) U.S. equities closed lower on Thursday as investors parsed through a fresh batch of corporate earnings results and economic data, while sovereign bonds around the world fell.
"There's a lot of activity taking place, but the middle of the rope is not moving" in the stock market, said Mike Bailey, director of research at FBB Capital Partners. "Bond investors that were worried the UK and Europe were going off a cliff got a bit more relaxed."
The Dow Jones industrial average gyrated between gains and losses before closing about 30 points lower, with IBM contributing the most gains, offsetting losses in Boeing. The S&P 500 also held near the flatline for a large part of the session, before closing 0.3 percent lower, with telecoms advancing 1.6 percent to lead advancers and real estate falling 2.4 percent to lead decliners. The Nasdaq composite lagged, dropping 0.65 percent.
Advertisement - story continues below