Brands such as Alcoa, Bank of America, Chevron, and Hewlett-Packard led decliners on the Dow Thursday. Stocks traded lower in the wake of less-than-inspiring economic news. The National Association of Realtors said that U.S. existing home sales fell 1.5 percent to an annual rate of 4.55 million in May from 4.62 million in April. Economists had expected existing home sales to slip to a 4.5 million annual pace. In other news, the Labor Department reported that initial jobless claims decreased to 387,000 last week from an upwardly revised figure of 389,000 the week prior. Elsewhere, crude oil dipped $3.25 today to settle at $78.20 a barrel.
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