Investors step back from the recent advance, mull private employment and services sector reports ahead of Friday's jobs report.
NEW YORK (CNNMoney.com) -- Stock declined Wednesday, as investors retreated after the recent run up and ahead of the September jobs report, due Friday.
The Dow Jones industrial average lost 0.6 percent, falling for a second session after ending at an all-time high of 14,087.55 on Monday. The tech-fueled Nasdaq composite and the broader S&P 500 index both declined as well.
Stocks had drifted lower throughout the morning as investors mulled mostly in-line readings on the services sector of the economy, and private sector employment, ahead of Friday's big jobs report.
But in the afternoon, stock losses accelerated a bit, with technology, commodity and material stocks leading the pull back.
Treasury prices dipped, lifting the corresponding yields. Oil and gold prices declined.
Investors will likely take their cue Thursday morning from the weekly jobless claims report and the August factory orders report.
<----------- This coming friday US unemployment data will be critical to the US market. But then, it may also be a trigger for another interest rate cut.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment