Tech lags as Apple falls for 4th straight day ahead of Dec. jobs data | Jan 4, 2024

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#stocks #inflation #YahooFinance #recession #bitcoin #Biden #Stockmarket #coronavirus #memestocks #Fed #YahooFinance #investing #stockmarket #crypto To get the latest market news check out finance.yahoo.com US stocks' recent slump continued on Thursday, as equities struggled to shake off a dismal start to the year and Federal Reserve policymakers left hopes for an early interest rate cut hanging. The Dow Jones Industrial Average (^DJI) closed just above the flatline, while the benchmark S&P 500 (^GSPC) fell about 0.3%. After a Wednesday sell-off, the Nasdaq Composite (^IXIC) pushed for gains at points in the session, but fell nearly 0.6% below the flatline by the close. Investors looking for confirmation of bets on a March rate cut got uncertainty instead in the Fed minutes released Wednesday. While officials agreed rates had reached a peak and should be lower by the end of 2024, some signaled that they could stay at their historically high levels "for some time" depending on the path of inflation. In single stock moves, Apple (AAPL) stock stumbled for a fourth straight day as Wall Street highlighted concerns about weakening iPhone demand. Multiple data points released Thursday morning showed the labor market remains intact while wages continue to cool, a welcome sign in the fight against inflation. The latest ADP employment report showed private companies added 164,000 jobs in the month of December, above November's reading of 103,000 and higher than analysts' expectations for 115,000 additions. Elsewhere, the Department of Labor reported that 202,000 jobless claims were filed last week, below economist estimates for 216,000. Meanwhile, US bond yields returned to gains, with the 10-year Treasury yield (^TNX) edging closer to 4% after falling away from that level on Wednesday. Investors will now turn to the December jobs report. The monthly labor report from the Bureau of Labor Statistics, slated for release at 8:30 a.m. ET, is expected to show nonfarm payrolls rose by 175,000 in December while the unemployment rate ticked up to 3.8% from the previous month, according to consensus estimates compiled by Bloomberg. For more on this article, please visit: https://finance.yahoo.com/news/stock-market-news-today-tech-lags-as-apple-falls-for-4th-straight-day-ahead-of-dec-jobs-data-210653577.html