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US stocks waver ahead of jobs data

 2015-11-05 19:04:27.0

101123_us_flag_nyse_reut_605 New York:��US stocks wavered between small gains and losses as investors awaited the key jobs report due Friday to weigh the possibility of a December rate hike. At mid-day, the Dow Jones Industrial Average shed 48.91 points, or 0.27 percent, to 17,818.67 on Thursday, Xinhua reported. The S&P 500 fell 6.46 points, or 0. 31 percent, to 2,095.85. The Nasdaq Composite Index dropped 28.97 points, or 0.56 percent, to 5,113.51. On the economic front, in the week ending October 31, the advance figure for seasonally adjusted initial jobless claims was 276,000, an increase of 16,000 from the previous week's unrevised level and above market expectations, the US Labor Department said on Thursday.�Besides, traders will mainly look to non-farm payrolls this week for hints on the timing of the interest rate hike by the US Federal Reserve. Fed chair Janet Yellen reiterated on Wednesday that the central bank may start raising short-term interest rates at its December policy meeting if the US economy is "performing well".�"If the incoming information supports that expectation, then our statement indicates that December would be a live possibility," Yellen said. Besides, New York Fed president William Dudley, said on Wednesday that he would "completely agree" with Yellen on a December hike.�US stocks closed modestly lower after wavering in a tight range on Wednesday, as investors assessed Yellen's comments about rate hikes. (IANS)

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