Stocks close mixed ahead of jobs report
Following a dismal performance Wednesday, the Dow fell about 41 points, the S&P 500 dropped about one point, and the Nasdaq gained about four points
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Stocks lost steam in the last few minutes of trading to close mixed Thursday ahead of the government's monthly jobs figure and after EU officials said no agreement has been reached on additional funding for Greece.
The CBOE Volatility Index, widely considered the best gauge of fear in the market, slipped 1.15 percent to end at 18.09.
Among key S&P sectors, industrials and financials gained, while consumer staples and telecoms slipped.
Moody’s warned that the U.S. rating could be placed under review for a possible downgrade if lawmakers in Washington do not make substantive progress in budget talks by the middle of July.
Meanwhile, Greece agreed with its EU and IMF lenders to impose yet deeper austerity, a senior official told Reuters, but a euro zone official later told CNBC there is no truth to the Reuters report. A Greek official declined comment.
The market tried to find its footing after a sharp selloff in the previous session triggered by news of unexpected weakness in the manufacturing sector and a smaller-than-expected gain in private payrolls, and compounded Moody's downgrade of Greece's debt deeper into junk status.