US equities ended a choppy session narrowly mixed on Wednesday following the sell-off seen in the previous session. The major averages on the Wall Street eventually finished the day mixed with the Dow marginally up 38.04 points or 0.1 percent to 40,974.97, the S&P 500 dipped 8.86 points or 0.2 percent to 5,520.07 and the Nasdaq fell 52.00 points or 0.3 percent to 17,084.30. Energy shares led the declines, with Exxon Mobil and Chevron falling 1.2% and 1.7%, respectively. Tech shares also underperformed as Nvidias stock dropped 1.6% amid AI concerns. Intel lost 3.3%.
While stocks reached new record highs in mid-July, the markets experienced a significant sell-off in early August amid concerns about the economic outlook. Worries about the economy continue to hang over the markets following yesterday's disappointing readings on manufacturing activity. The Labor Department also released a report showing a bigger than expected decrease by job openings in the U.S. in the month of July. The Labor Department said job openings edged to 7.67 million in July from a downwardly revised 7.91 million in June.
Meanwhile, the dollar index traded around 101.3 on Thursday after losing half a percent in the previous session whereas yield on the 10-year US Treasury note held around 3.77% after falling for two straight sessions, as weak manufacturing and labor market data prompted traders to price in more aggressive rate cuts from the Federal Reserve this year. Investors awaited the key US jobs report for more insights on the extent of the Federal Reserves interest rate cut.
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