Wall Street drifted slightly lower as pressure from the bond market remains high due to worries about a too-hot U.S. job market.
The S&P 500 slipped 0.1 percent Thursday. The Dow edged down 9 points and the Nasdaq composite fell 0.1 percent. Stocks have struggled since the summer as Treasury yields have soared.
Yields wavered up and down Thursday after a report showed fewer workers applied for unemployment benefits last week than economists expected, which could be a signal of upward pressure on inflation. A more impactful and comprehensive report on the job market is coming on Friday.
On Thursday:
The S&P 500 fell 5.56 points, or 0.1 percent, to 4,258.19.
The Dow Jones Industrial Average fell 9.98 points, or less than 0.1 percent, to 33,119.57.
The Nasdaq composite fell 16.18 points, or 0.1 percent, to 13,219.83.
The Russell 2000 index of smaller companies rose 2.50 points, or 0.1 percent to 1,731.51.
For the week:
The S&P 500 is down 29.86 points, or 0.7 percent.
The Dow is down 387.93 points, or 1.2 percent.
The Nasdaq is up 0.51 points, or less than 0.1 percent.
The Russell 2000 is down 53.59 points, or 3 percent.
For the year:
The S&P 500 is up 418.69 points, or 10.9 percent.
The Dow is down 27.68 points, or 0.1 percent.
The Nasdaq is up 2,753.35 points, or 26.3 percent.
The Russell 2000 is down 29.74 points, or 1.7 percent.
