Dow slips as Wall Street awaits July jobs report; European markets close slightly higher; Bank of England imposes biggest rate hike in 27 years
The Dow ticked down Thursday as traders awaited Friday’s July jobs report, which will give the latest snapshot on the labor market and the health of the economy.
The Dow Jones Industrial Average shed 85.68 points, or 0.26%, to 32,726.82. The S&P 500 fell 0.08% to close at 4,151.94 after hitting its highest level since June on Wednesday. The Nasdaq Composite increased 0.41% to 12,720.58, the highest close since early May. A slight uptick in weekly jobless claims, reported Thursday morning, weighed on investors watching for signs that labor market strength is dwindling. The July jobs report, scheduled to be released Friday, will show how employers hired last month. Economists estimate that the economy added 258,000 jobs in July, down from 372,000 in June, according to Dow Jones. The jobless rate is forecast to remain 3.6%.
The pan-European Stoxx 600 provisionally closed slightly above the flatline. Travel and leisure stocks were the standout performers, gaining 1.9%, while oil and gas stocks fell 1.3%.
Ubisoft shares surged 11% after Reuters reported that Chinese tech giant Tencent intends to increase its stake in the French firm. Ubisoft declined to comment when contacted by CNBC.
Lufthansa shares climbed over 6% after the German posted a smaller-than-expected quarterly loss.
At the bottom of the European blue chip index, British airplane engine manufacturer Rolls-Royce fell almost 9% after reporting a larger-than-expected slide in first-half profit.
Source: CNBC, Investing.com