NEW YORK – Stocks reversed gains on Thursday, as caution about the extent of expected Federal Reserve monetary easing offset the lift from a lower dollar and improved jobless data.
The industrials sector led the way down as 3M Co (MMM.N) fell more than 4 percent after it shaved 6 cents off its full-year profit forecast.
The Dow Jones industrial average (.DJI) was off 21.87 points, or 0.20 percent, to 11,104.41. The Standard & Poor's 500 Index (.SPX) slipped 1.78 points, or 0.15 percent, to 1,180.67. The Nasdaq Composite Index (.IXIC) lost 8.23 points, or 0.33 percent, to 2,495.03.