US stocks pull back after yesterday's strong gains, again weighed down by tech stocks

Major US equity indices turned lower during the opening hour of trade on Thursday amid renewed weakness in technology shares, which was seen weighing on investors' sentiment. 

At the time of reporting, the Dow Jones Industrial Average was down around 25-points to 21,430, while the broader S&P 500 Index lost over 6-points to 2,434. Meanwhile, tech-heavy Nasdaq Composite Index lost nearly 50-points and slipped back below the 6,200 round figure mark.

Today's retracement followed previous session's strong rally led by gains in the financial sector, which advanced sharply following the Fed’s stress test results. 

Investors would continue to keep a close watch on the technology sector, which has been volatility over the past couple of week as some investors questioned the sector's high valuations.

On the economic data front, the first-quarter GDP was revised to 1.4%, up from the previous estimate of 1.2% and has now doubled from the initial estimate of 0.7%. Meanwhile, jobless claims rose by 2K to 244K for the week ended June 23, missing estimates pointing to a dip to 240K expected from last week’s 242K (revised higher from 241K).