The Latest News:
- U.S. stocks slipped from their record high Thursday, with consumer and tech stock lagged behind other sectors, reports Joseph Ciolli for Bloomberg.
- “The market still wants to be positive and has this feeling of goodwill, but at times it runs into a little bit of resistance,” Robert Pavlik, chief market strategist at Banyan Partners LLC, said in the Bloomberg article. “Nobody wants to buy at an all-time high, and that’s where we are. People are a little bit more cautious. As we get closer to the payroll report, we’ll be in wait and see mode.”
- Investors remain hesitant in making large bets ahead of the monthly government jobs report slated for Friday.
- “Most people are assuming whatever happens, the market will take it in stride. If it’s a weak number, it’s weather related. If it’s a very strong number, Yellen’s not going to get pushed into tapering any faster,” Art Cashin, director of floor operations at UBS, said in a CNBC article. “They think it’s kind of a no lose proposition.”
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Max Chen contributed to this article.