US stocks recovered from initial declines on Thursday in a choppy session as commodity prices kept the market in flux while a downgrade of Goldman Sachs dragged down financial shares. Commodities rebounded after US data showed a decline in jobless benefit claims last week and a revision to retail sales data suggested consumer spending in the first quarter might have been stronger than initially thought.
Goldman shares slumped 4.5 percent to $141.17 as volume topped the 50-day moving average. Both the KBW bank index and the S&P financial sector shed 0.6 percent. The Dow Jones industrial average dropped 16.04 points, or 0.13 percent, to 12,613.99. The Standard & Poor's 500 Index shed 0.04 point to 1,342.04. The Nasdaq Composite Index gained 4.01 points, or 0.14 percent, to 2,849.07.