US stocks erase gains, close flat

US stock indices erased Thursday's early gains, closing relatively stable as investors evaluated data on economic growth and the labor market in the US. This was in addition to disappointing forecasts regarding the future of monetary policy.

The Dow Jones Industrial Average closed flat at 42,342 points, after falling for 10 consecutive sessions in its worst losing streak since 1974.

The S&P 500 index declined 0.1% to 5,867 points, and Nasdaq dropped by the same percentage to end at 19,372.

As for European markets, the STOXX Europe 600 slumped 1.5% to 506.66 points, its worst daily loss since Nov. 12.

The British FTSE index also lost 1.15% to 8,105 points, and the German DAX index was down 1.35% to 19,969 points. The French CAC 40 index retreated 1.2% to 7,294 points.

The Nikkei index fell 0.69% to 38,813 points, and the broader Topix index lost 0.22% to 2,714 points.

Brent crude futures for February 2025 delivery fell 0.69%, or $0.51, to $72.88 per barrel.

Meanwhile, the US West Texas Intermediate (WTI) crude futures for January 2025 delivery decreased 0.95%, or $0.67, to $69.91 per barrel.

Regarding gold, futures prices for February delivery were down 1.7%, or $44.3, to $2,608.1 per ounce.

According to the Bureau of Economic Analysis data, the US real GDP grew at an annual rate of 3.1% in the third quarter. Additionally, weekly jobless claims fell more than expected, indicating the strength of the US labor market.