Stocks were mixed on Thursday as investors looked ahead towards Friday's July jobs report, which will give insights on the state of the labor market and the overall health of the economy. The Dow Jones Industrial Average and S&P 500 slipped lower into negative territory, while the Nasdaq Composite climbed 0.4%.
Here's how the market settled on Thursday:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
A slight increase in weekly jobless claims impacted outlooks ahead of July's job report as investors look for signs that the labor market is cooling after several months of strength post-pandemic. First-time filings for unemployment insurance climbed by 6,000 to 260,000 for the week ended July 30, according to the Department of Labor's latest report on Thursday.
Economists estimate that the economy added about 250,000 jobs in July heading into Friday's report, marking a large decrease from June's print of 372,000.
Elsewhere, Coinbase
"Our institutional clients are increasingly interested in gaining exposure to digital asset markets and are focused on how to efficiently manage the operational lifecycle of these assets," said Joseph Chalon, global head of strategic ecosystem partnerships at Blackrock, in a statement. The partnership will allow investors to "manage their bitcoin exposures directly in their existing portfolio management and trading workflows."
For commodities, oil prices declined on Thursday, with West Texas Intermediate
Looking ahead, all eyes will be on Friday's jobs report due out in the morning.
