US market pares losses on service sector data

NEW YORK -- Stocks erased some early losses on Thursday after a report showed the U.S. services sector contracted less than economists had forecast.

The report tempered the impact of earlier data showing jobless claims rose more than expected last week.

The Dow Jones industrial average (.DJI) was down 17.26 points, or 0.14 percent, at 12,588.57. The Standard & Poor's 500 Index (.SPX) was down 2.03 points, or 0.15 percent, at 1,365.50. The Nasdaq Composite Index (.IXIC) was down 6.53 points, or 0.28 percent, at 2,354.87.

(Agencies)