Exchanges Dive Day Befpre November Jobs Figures - InvestingChannel

Exchanges Dive Day Befpre November Jobs Figures

The Dow Jones Industrial Average fell on Thursday, giving up some of the big gains in the prior session, as investors awaited jobs data coming Friday that could determine the pace of the Federal Reserve’s future rate tightening.

The 30-stock index backtracked 314.35 points to break for lunch Thursday at 34,275.42.

The S&P 500 gave back 11.35 points to 4,068.76.

The NASDAQ dipped 7.72 points to 11,460.28.

Costco shares dropped 6% after posting a 5.7% November sales increase, a slowing from a 7.7% increase in October and a poor sign with retailers in their key holiday season. Costco also reported a 10.1% decline in e-commerce sales during the period. Shares of Walmart and Target were lower Thursday, following Costco

Shares of Salesforce tumbled 9%, helping to drag down the Dow, after the software company said its co-CEO would be stepping down soon.

The moves departed from earlier boosts that followed the release of the Core Personal Consumption Expenditures Index, a closely watched gauge of spending. October data showed the index rose 0.2%, below the consensus estimate of 0.3% collected from economists by Dow Jones.

Investors will be watching Friday for data on the unemployment rate and non-farm payrolls.

Prices for the 10-year Treasury gained ground, lowering yields to 3.57% from Tuesday’s 3.64%. Treasury prices and yields move in opposite directions.

Oil prices increased $1.63 to $82.18 U.S. a barrel.

Gold prices popped $56.10 to $1,816.00 U.S. an ounce.

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