Traders were cautious ahead of the data which might paint a mixed picture of the world's biggest economy.
The revision to first-quarter U.S. growth due later in the day is likely to show a 0.7 percent contraction in the economy, Credit Agricole analyst
"Although the jobless claim numbers are likely to improve, the downward revision of U.S. GDP will further dampen the market mood," he said. Still, some analysts believe that U.S. growth is bouncing back in the current quarter.
U.S. stocks edged lower for the first time in five days Wednesday, but most action was in the bond market where the yield on the 10-year Treasury note fell to its lowest in 11 months.
The S&P 500 fell 2.13 points, or 0.1 percent, to 1,909.78. The index closed at a record 1,911.11 the day before.
The Dow Jones industrial average dropped 42.32 points, or 0.3 percent, to 16,633.18. The Nasdaq composite fell 11.99 points, or 0.3 percent, to 4,225.07.
In energy markets, benchmark U.S. crude for July delivery was up
The euro rose to
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