U.S. stocks end down, but off session lows, ahead of jobs report

U.S. stocks closed lower on Thursday, although major indexes came off the day's lows following a breach of key support levels. The Dow Jones Industrial Average closed flat at 23,930, although the 0.02% gain on the day was enough to avert a five-day losing streak. The S&P 500 fell 0.2% to 2,630. The Nasdaq Composite Index fell 0.2% to 7,088. At their lows of the day, major indexes fell sharply, with both the Dow and the S&P 500 dropping below their 200-day moving averages, a closely watched gauge used as a proxy for an asset's long-term momentum trends. Both subsequently rebounded back above that level, however, and ended close to their highs of the session. The day's trading was driven by uncertainty over how to interpret the Federal Reserve's recent policy statement as well as worries over talks in Beijing designed to avert a full-blown U.S.-China trade war. Looking ahead, investors will turn their attention to a report on nonfarm payrolls due Friday at 8:30 a.m. Eastern Time, with estimates for 188,000 jobs created in April and a decline in the unemployment rate to 4% from 4.1%.