* Final reading of Q3 GDP at 3.5 pct vs. 3.3 pct est.
* Weekly jobless claims rise to six-month high
* Micron jumps after profit forecast tops expectations
* Indexes down: Dow 0.13 pct, S&P 0.22 pct, Nasdaq 0.26 pct
(Updates to open)
By Tanya Agrawal
Dec 22 U.S. stocks were lower in light trading
on Thursday as a fall in Apple's shares weighed.
Apple fell 0.8 percent to $116.38 after Nokia
said it had filed a number of lawsuits against the
iPhone maker for patent infringement. The stock was the biggest
drag on all three major indexes.
The market showed little reaction to data showing that the
U.S. economy grew faster than initially thought in the third
quarter, notching up its best performance in two years.
Gross domestic product increased at a 3.5 percent annual
rate instead of the previously reported 3.2 percent pace, the
Commerce Department said in its third GDP estimate.
"With less traders on their desks and most investors
planning where to spend their New Year's Eve, markets have
clearly entered the holiday mood," said Hussein Sayed, chief
market strategist at FXTM.
"We can barely see any significant moves in equities, fixed
income or even currency markets today, suggesting that more
consolidation is expected throughout the remaining days of
U.S. stocks have rallied since the Nov. 8 election, with the
Dow up about 9 percent and the S&P 6 percent as investors expect
the economy to benefit from President-elect Donald Trump's plans
for deregulation and infrastructure spending.
The Dow Jones Industrial Average has been threatening to
breach the historic 20,000 mark for the last several days, but
has failed to do so.
At 9:39 a.m. ET (1439 GMT) the Dow Jones industrial average
was down 26.77 points, or 0.13 percent, at 19,915.19.
The S&P 500 was down 5 points, or 0.22 percent, at
The Nasdaq Composite was down 14.37 points, or 0.26
percent, at 5,457.06.
Ten of the 11 major S&P sectors were lower, with the
consumer discretionary index's 0.40 percent fall
leading the decliners.
Other economic data showed the number of Americans filing
for unemployment benefits rose to a six-month high last week,
but remained below a level that is associated with labor market
Initial claims for state unemployment benefits increased
21,000 to 275,000 for the week ended Dec. 17.
Micron Technology shares jumped 11.6 percent to
$22.97 after the chipmaker's profit forecast beat expectations.
Red Hat fell 12.2 percent to $70.20 after the Linux
OS distributor's quarterly revenue fell below estimates.
Declining issues outnumbered advancers on the NYSE by 1,489
to 1,075. On the Nasdaq, 1,327 issues fell and 866 advanced.
The S&P 500 index showed five new 52-week highs and two new
lows, while the Nasdaq recorded 33 new highs and 21 new lows.
(Reporting by Tanya Agrawal in Bengaluru; Editing by Anil