Traders Gear up for Jobs Numbers, Indexes Barely Move

The S&P 500 was little changed on Thursday, taking a pause after reaching a record, while traders awaited a key U.S. economic report.

The Dow Jones Industrials stayed above water 78.84 points to 38,886.17.

The much-broader index slipped 1.07 points to 5,352.96.

The NASDAQ lost 14.78 points to 17,173.12.

Lululemon jumped 4% as the sportswear manufacturer beat expectations in its fiscal first quarter. Five Below sank 11% on lackluster results and guidance. Chipmaker Nvidia traded 2% lower and cooled from record highs seen earlier in the week.

Nvidia powered those gains to top a $3-trillion market valuation and surpass Apple in value. Earlier this week, the company announced its next generation of artificial intelligence chips, known as “Rubin.”

Wall Street is looking ahead to Friday’s non-farm payrolls report for May, with investors on the hunt for signs of a weakening labour market, which could support rate cuts from the Federal Reserve. Economists polled by Dow Jones expect a jobs gain of 190,000.

Prices for the 10-year Treasury moved slightly forward, dropping yields to 4.28% from Wednesday’s 4.29%. Treasury prices and yields move in opposite directions.

Oil prices grabbed $1.51 to $75.58 U.S. a barrel.

Gold prices hiked $15.60 to $2,391.10