Stocks fall as October struggles continue, traders await Friday's jobs report.
Stocks edged lower Thursday as investors look ahead to September’s payrolls report due later this week, while tensions in the Middle East persist.
The Dow Jones Industrial Average slid 106 points, or 0.3%. The S&P 500 dipped 0.2%, and the Nasdaq Composite shed 0.4%.
October trading is off to a rough start as escalating tensions in the Middle East dampen investors’ enthusiasm. Stocks tumbled on Tuesday after Iran launched a missile attack on Israel. Investors are preparing for further uncertainty as Israel starts a ground operation into Lebanon.
The growing fears have also driven oil prices higher. U.S. crude futures rose more than 1.5%, bringing its week-to-date advance to 4.6%.
Weekly jobless claims came in slightly higher than economists polled by Dow Jones forecasted, according to data released Thursday. That offers hints into the health of the labor market as traders gear up for September’s payrolls report due on Friday morning.
In corporate news, denim maker Levi Strauss plunged about 10% after delivering mixed results for the fiscal third quarter. The company also announced that it’s considering a sale of its Dockers business, which is dragging down the overall business.
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