(MENAFN- Baystreet.ca) Dow Retreats as Jobs Figures Loom
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The Dow Jones Industrials slipped Thursday as traders anxiously await the Friday jobs report, which will give more information about a potential economic downturn.
The 30-stock index took a step backward from Wednesday's monster gains, losing 78.5 points noon ET to 32,788.96
The S&P 500 dipped 1.59 points to 4,153.58,
The NASDAQ Composite gathered 31.99 points to 12,700.15.
A slight uptick in weekly jobless claims, reported Thursday morning, weighed on investors watching for signs that labor market strength is dwindling. The July jobs report, scheduled to be released Friday, will show how employers hired last month. In addition, investors will get an updated look at inflation data from the July consumer price index report next week.
Earnings season continued, with a slew of reports Thursday. Eli Lilly shares fell after the company missed Wall Street's estimates for its quarterly results and cut its full-year forecast. Shares of Datadog and Lucid also fell after both companies cut future outlooks.
Virgin Galactic, AMC Entertainment and Beyond Meat are scheduled to report after the bell.
Treasury prices gained ground Thursday, lowering yields to 2.67%, from Wednesday's 2.71%. Treasury prices and yields move in opposite directions.
Oil prices doffed $2.55 to $88.11 U.S. a barrel.
Gold prices powered ahead $29.80 to $1,806.20 U.S. an ounce.
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