A fortnight-long rally for Wall Street took a breather, as investors turned their attention to Friday’s government jobs report and its potential implications for the Federal Reserve’s policy meeting later this month.
The S&P 500 and Nasdaq Composite on Thursday finished about 0.2 per cent below their record closing highs notched up in the previous session. For the former, it marked only the index’s second down day in the past 13 sessions.
Consumer cyclicals and consumer staples were the S&P 500’s top-performing sectors, while basic materials and industrials lagged.
Shares in Jack Daniel’s maker Brown Forman jumped 10.7 per cent after strong quarterly results, while several airlines rallied after American Airlines boosted its fourth-quarter earnings forecast.
Treasuries were mixed, with shorter-term debt slightly weaker on the day and longer-term notes marginally stronger.