Discouraging data drops stocks - UPI.com NEW YORK, May 31 (UPI) -- U.S. markets closed lower Thursday, as data on jobs and the gross domestic product undermined confidence. Payroll firm Automatic Data Processing Inc.'s report on private-sector jobs came in with job gains below expectations. The Commerce Department revised its first quarter gross domestic product estimate lower, from 2.2 percent growth to 1.9 percent. By close of trading on Wall Street, the Dow Jones industrial average shed 26.41 points, or 0.21 percent, to 12,393.45. The Standard & Poor's 500 lost 2.99 points, or 0.23 percent, to 1,310.33. The Nasdaq Composite dropped 10.02 points, 0.35 percent, to 2,827.34. On the New York Stock Exchange, 1,468 stocks advanced and 1,564 declined on a volume of 3.8 billion shares traded. The benchmark 10-year treasury note rose 18/32 to yield 1.563 percent. The euro fell to $1.236 from Wednesday's $1.2366. Against the yen, the dollar hit 78.36 from 79.07 yen.