Last updated July 29, 2010: 12:45 PM ET --- The major U.S. equity indices are trading lower Thursday following the latest jobless claims report and as investors await the latest reading on second-quarter gross domestic product. The Labor Department said initial claims for unemployment benefits dropped by a modest 11,000 to 457,000 last week, slightly better than the 459,000 forecast by economists. Economists are forecasting that the GDP slowed in the second quarter to an annual rate of 2.5% as the government cut back on economic stimulus programs. The first quarter GDP was 2.7%. In corporate news, Exxon Mobil (NYSE:XOM) is currently trading 0.79% lower at $60.43 despite the company reporting that its profit nearly doubled in the second-quarter. Citrix Systems (NASDAQ:CTXS) shares are trading 18% higher after the company said late Wednesday that it projected a stronger-than-expected quarter and year. The Dow Jones Industrial Average (DJI) is trading 0.59% lower at 10,436.20, the S&P500 (INX) is trading 0.56% lower at 1,099.90, and the Nasdaq Composite (IXIC) is trading 0.86% lower at 2,245.31.