By Anora Mahmudova, MarketWatch

NEW YORK (MarketWatch) -- U.S. stocks moved lower in early trade on Thursday, as investors weighed downbeat trade data from China against better-than-expected jobless claims in the U.S.

China's March trade-account numbers released on Thursday were much weaker than expected, feeding concerns about slowing global demand. Stateside, weekly jobless claims dropped to the lowest level in almost seven years, perhaps a sign the U.S. labor market is experiencing a spring revival.

Investors also focused on mixed earnings results from retailers such as Rite Aid Corp. (RAD) and Family Dollar Stores Inc. (FDO)

The S&P 500 (SPX) was 4 points, or 0.2%, lower at 1,868.08. The Dow Jones Industrial Average (DJI) fell 9 points, or 0.1%, to 16,428.49. The Nasdaq Composite (RIXF) shed 34 points, or 0.8%, to 4,174.90.

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"Wall Street ignored the fact that we had several positive data points since the last Fed meeting, yet rallied yesterday perhaps interpreting the minutes more dovish than they previous thought," said Colin Cieszynski, senior market analyst at CMC Markets.

"The economy is improving, tapering is continuing apace, which means less liquidity for Wall Street. With valuations already fair, earnings growth may already be baked in the markets. We may see big swings during this earnings season, but overall market will probably stay flat in a tag of war between the bears and the bulls," he added.

New applications for unemployment benefits fell last week to the lowest level in almost seven years, perhaps a sign the U.S. labor market is experiencing a spring revival.

Initial jobless claims sank by 32,000 to a seasonally adjusted 300,000 in the seven days ended April 5, the Labor Department said Thursday. That's the lowest level since May 2007, six months before the Great Recession began and a steeper drop than economists had expected.

Separately, the prices paid for imported goods increased 0.6% in March, the U.S. Labor Department said Thursday. The price of U.S.-made goods exported to other nations climbed 0.8% in March.

One Fed speaker will also be on tap. Chicago Fed President Charles Evans appears in Washington, DC at 11:30 a.m. Eastern Time, participating in a panel discussion on Global Monetary Policy and Emerging Markets at the Brookings Institution. Evans last night said the Fed shouldn't lift interest rates until 2016.

Gold jumps 1%; Ally slips

Asian markets brushed aside ugly trade data, after China announced a plan to widen market access for overseas investors and allow for direct stock-trading between Hong Kong and Shanghai. European stocks largely gave up on gains.

Gold (GCM4) surged 1.1% and silver (SIK4) was up 2.4%. Oil (CLK4) was mildly lower, and the dollar (DXY) remained under pressure across major crosses.

Shares of Imperva Inc. (IMPV) fell 42%, after the network-security company cut its outlook.

Bed, Bath & Beyond Inc.(BBBY) shares fell 7.1% after the houseware retailer's forecast for the current quarter fell short of forecasts, and it posted a profit and revenue decline for the fiscal fourth quarter.

Family Dollar Stores Inc.(FDO) shares were mostly flat after the cut-price retailer posted a fiscal second-quarter profit of 80 cents a share, which fell short of expectations. Revenue also fell.

Rite Aid Corp.(RAD) shares rose 12% after fourth-quarter adjusted earnings per share topped estimates.

Costco Wholesale Corp.(COST) was up 0.4% after March comparable sales rose 5%, beating forecasts.

Ally Financial Inc.(ALLY) made a disappointing market debut on Thursday, in what is the biggest U.S.-listed initial public offering of the year. Shares fell 1.6% to $24.61. The U.S. Treasury Department agreed to sell 95 million shares at $25 a piece, raising about $2.38 billion and reducing its stake in the company.

Farmland Partners Inc. (FPI) is scheduled to begin trading on the stock market on Thursday after pricing its initial public offering late Wednesday.

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