On Wednesday, October 3rd, U.S. markets closed lower as investors braced for the September payrolls report, which could influence future interest rate decisions. The slight rise in jobless claims signaled labor market softening, while escalating Middle East tensions pushed oil prices higher, adding to the cautious sentiment and prompting some profit-taking after recent gains.
In economic data, U.S. jobless claims rose by 6,000 to 225,000, slightly above estimates, while the S&P Global services PMI was revised lower to 55.2 in September, down from 55.7 in August. The composite PMI also dipped to 54.
The majority of S&P 500 sectors ended in the red, with consumer discretionary, materials, and real estate stocks leading losses, while energy and information technology sectors rose.
The Dow ...
