U.S. stocks retreated on Wednesday as investors assessed data indicating falling inflation, while the jobs report loomed.
The Dow Jones Industrials declined 70.13 points at 36,054.43.
The S&P 500 let go of 17.84 points to 4,549.34.
The NASDAQ dipped 83.2 points to 14,146.71.
The market initially got a morning boost after economic data. A drop in labor costs boded positively for the path of inflation, while a jump in productivity signaled the potential for the economy to skirt a recession. November private payroll data from ADP offered the latest indication that the job market, long considered a pain point for the Federal Reserve, was easing.
Cloud company Box tumbled 10% after reporting third-quarter results that came in below analyst expectations. On the other hand, homebuilder stock Toll Brothers gained more than 2% after exceeding expectations on the top and bottom lines.
Prices for the 10-year Treasury picked up ground, dropping yields to 4.12% from Tuesday’s 4.17%. Treasury prices and yields move in opposite directions.
Oil prices faded $3.05 to $69.27 U.S. a barrel.
Gold prices regained $8.60 to $2,044.90.
