Stock Market Today: Dow ends flat as investors on edge ahead of jobs report
Investing.com — The Dow closed roughly unchanged Thursday as investors remain on edge over higher for longer interest rates just ahead of the Friday jobs report that will play a role in shaping the Federal Reserve’s decision on whether to raise rates next month.
The Dow Jones Industrial Average fell 0.03%, 11 points, Nasdaq fell 0.1%, and the S&P 500 fell 0.1%.
Fewer than expected jobless claims in the week ended Sept. 23 added to mixed picture on the labor market including surprise uptick in labor demand and slowing private job growth seen so far this week.
The jobs report on Friday is set to offer further insight into the labor market that has remain resilient and proven a thrown in the Fed’s side to bring inflation under control.
The U.S. economy is expected to have created about 170,000 jobs last month, with wage growth likely to have ticked up by 0.1% for the month, but remain steady in the 12 months through September.
The recent strikes from UAW members at the big three U.S. automakers isn't expected to be reflected in the September report.
«We do not assume a drag from labor disputes, because the United Auto Workers strike started after the beginning of the survey week,» Goldman Sachs said in a recent note.
Treasury yields retreated again on Thursday, though remain at multi-year highs as investors wary of upside to resume as a stronger jobs report on Friday could signal that the Fed has more work to do restrict growth.
Clorox Co (NYSE:CLX) fell more than 5%. leading consumer staples lower, a day after the products maker said impact of the cyber attack in August was expected to hurt growth.
The company now sees net sales decreasing by 23% to 28% and a loss of 35 to 75 cents for the quarter ended Sept. 30. The
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