U.S. stocks pared gains in early trading on Thursday, with the Dow industrials turning negative, after data showed the services sector unexpectedly contracted in November after two months of expansion.

The Dow Jones industrial average <.DJI> dipped 4.61 points, or 0.04 percent, to 10,448.07. The Standard & Poor's 500 Index <.SPX> added 0.86 points, or 0.08 percent, to 1,110.10. The Nasdaq Composite Index <.IXIC> put on 8.53 points, or 0.39 percent, to 2,193.56.

Stocks had opened higher after Bank of America Corp said it would repay $45 billion in taxpayer bailout funds and data showed initial claims for jobless benefits fell last week.

(Editing by Jeffrey Benkoe)