US stocks struggled on Thursday ending mixed as renewed concern about credit markets took a toll on investor sentiment. Investors are also anxiously awaiting a speech from the Federal Reserve Chairman today which could shed light on the chances of a cut in benchmark interest rate.

Positive economic news came from the Commerce Department. Second-quarter gross domestic product came in at a revised annual rate of 4 per cent, which was the highest growth rate in more than a year and higher than most estimates.

But the number of workers filing for unemployment benefits unexpectedly rose last week. The Labor Department reported new applications hit 334,000, up 9,000 over the previous week. Economists had expected the number to fall.