Stock market today: Wall Street edges lower ahead of a highly anticipated jobs report

Wall Street experienced a slight decline as concerns about an overheating U.S. job market continued to put pressure on the bond market.

Stock market today: Wall Street edges lower ahead of a highly anticipated jobs report

Wall Street closed quietly on Thursday as concerns about a strong U.S. job market continued to put pressure on the bond market. The S&P 500 slipped 0.1%, the Dow Jones Industrial Average edged down less than 0.1%, and the Nasdaq composite dipped 0.1%. Stocks have been struggling due to soaring Treasury yields, which have affected stock prices and corporate profits. The Federal Reserve has raised interest rates to combat high inflation, but there are worries that a strong job market could further increase inflation. A comprehensive report on the U.S. job market is expected on Friday. The 10-year Treasury yield, a key indicator for the bond market, fluctuated throughout the day. The price of oil has also fallen, providing some relief on the inflation front. Clorox and Rivian Automotive experienced losses, while Lamb Weston saw a jump in profits. Stock markets in Europe and Asia were relatively stable.