04:25 PM EDT, 03/20/2025 (MT Newswires) -- US benchmark equity indexes closed lower on Thursday after the latest US unemployment insurance data and unchanged interest rates.

The Nasdaq Composite fell 0.5% to 17,668.3, while the S&P 500 dropped 0.3% to 5,658.7. The Dow Jones Industrial Average was down 0.1% to 41,929.8. The utilities sector had the biggest gains, while materials saw the steepest decline.

US Treasury yields were lower with the 10-year rate losing about 1.7 basis points to 4.24% and the two-year rate was down 1.5 basis points to 3.96%.

May West Texas Intermediate crude oil increased 2% to $68.27 a barrel Thursday.

In economic news weekly applications for unemployment insurance in the US rose less than projected, while continuing claims moved higher, government data showed.

"There will be idiosyncratic layoffs from individual firms that are struggling, but we do not see much evidence that a bigger wave of indiscriminate layoffs in the private sector is coming," Jefferies Chief US Economist Thomas Simons said in a note.

US Existing home sales rebounded unexpectedly in February to a 4.26 million seasonally adjusted annual rate, according to the National Association of Realtors. Sales rose in the South and West regions, fell in the Northeast and held steady in the Midwest.

In company news, Darden Restaurants ( DRI ) was the top performer on the S&P 500, with shares up 5.8%. Wells Fargo and Baird raised price targets on the company's stock despite missing fiscal Q3 revenue estimates.

Jabil ( JBL ) increased its full-year outlook after reporting better-than-expected fiscal Q2 results. Its shares were up 3.1%.

Plus Therapeutics ( PSTV ) shares jumped nearly 170% after it said the US Food and Drug Administration conditionally accepted the proprietary name for its lead tumor therapy candidate.

ProAssurance ( PRA ) shares surged 48% a day after it agreed to be acquired by Doctors Co. for about $1.3 billion.

Accenture ( ACN ) was among the worst performers on the S&P 500 with shares down 7.3%. Chief Executive Julie Sweet said the company's revenue is being hurt by the Trump administration's efforts to slash US federal government costs. Accenture's ( ACN ) Federal Services unit faces a review of contracts as federal agencies move to terminate contracts not deemed critical.

Gold gained 0.4% to $3,052.50 per troy ounce, while silver was down 0.5% to $34.03 per troy ounce.

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