Stocks open lower as market churn continues

U.S. stocks opened lower Thursday, on track for a third down day despite stronger-than-expected economic data and cooling bond yields. The Dow Jones Industrial Average fell 158 points, 0.5%, to open near 32,362, while the S&P 500 lost 19 points or 0.5%, near 3,870. The Nasdaq Composite index dropped 120 points, 0.9%, and traded near 12,842. On Thursday morning, the government revised up its estimate of GDP growth in the fourth quarter, and the Labor Department announced that fewer Americans had applied for first-time jobless benefits in the most recent week. Earnings reports for companies like Darden Restaurants Inc. continue to beat expectations. Still, stocks remain under pressure with no clear catalyst for the sell-off.

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