U.S. stocks relinquished modest gains to end mostly flat Thursday as investors awaited the closely watched jobs report due Friday. An earlier bounce for equities, following the Bank of England’s decision to cut its key interest rate for the first time in seven years faded as Wall Street wrestled with mixed economic reports.
The S&P 500 index closed virtually flat at 2,164.25, with the tech and materials the only two sectors finishing in positive territory.
The Dow Jones Industrial Average ended near break-even at 18,352.05, with the blue-chip benchmark limited by a 1% fall in shares of Walt Disney Co., offsetting a 1% gain in Visa Inc..
The Nasdaq Composite Index closed up 6.51 points, or 0.1%, at 5,166.25.
Friday’s jobs report is likely to command more attention given the surprising readings from the two previous labor data, according to Bruce Bittles, chief investment strategist at RW Baird & Co. A Labor Department report for June showed that a surprisingly strong 287,000 were created, following employment data for May that revealed a paltry 11,000 were created.
Economists surveyed by FactSet are projecting the U.S. economy to have added 185,000 jobs in July.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
0 comments:
Post a Comment