Dow Drops More Than 200 Points, S&P 500 Retreats from Record as Big Payrolls Report Looms
U.S. stocks were lower on Thursday as investors awaited Friday’s big jobs report.
The Dow Jones Industrial Average dipped 248.33 points, or 0.55%, to close at 44,765.71. Meanwhile, the Nasdaq Composite slipped 0.18% to end at 19,700.26. The S&P 500 dropped 0.19%, settling at 6,075.11.
The three major averages saw solid gains in the previous session, posting record closes.
Traders on Thursday looked ahead to key U.S. employment data on Friday. Economists polled by Dow Jones forecast the U.S. economy added 214,000 jobs in November.
This labor report could inform the Federal Reserve’s rate decision at its policy meeting later this month. On Wednesday, Fed Chair Jerome Powell said that the U.S. economy is strong enough for the central bank to move carefully on rate cuts.
Source : CNBC