U.S. stocks traded modestly lower Thursday as a recent rally, which has propelled equities toward record highs, eased. The Dow Jones Industrial Average fell 61 points, or 0.3%, at 17,941, while the S&P 500 declined 9 points, or 0.4%, to 2,109. The Nasdaq Composite Index gave up 23 points, or 0.5%, to 4,951. Moves in stocks came as the yield on benchmark 10-year Treasurys touched their lowest level in four months, at 1.67%. The market was little-changed after a reading of employment, released at 8:30 a.m. Eastern Time, showed that initial jobless claims in early June fell to 264,000. In stock movers, shares of Chesapeake Energy Corp. helped lead the market lower as crude-oil prices retreated off 11-month highs set on Wednesday.
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