U.S. Stocks Slip to 3-Week Low, Oil Gains Before Jobs Report
- S&P 500 turns negative, extends lowest level since April 11
- Oil pares advance to just above $44 a barrel in New York
Brian Belski: Bull Market Is Still Very Much Alive
A rally in crude oil faded and U.S. stocks slipped for a third day, leaving the S&P 500 Index at a three-week low as investors awaited Friday’s jobs report for clues on the strength of the world’s largest economy. Emerging-market shares fell and the dollar strengthened.
The S&P 500 has fallen 2.5 percent since April 20 amid rising concern global economies haven’t responded to central-bank stimulus. Emerging-market shares dropped to the lowest in seven weeks, and Turkish 10-year bond yields topped 9.5 percent as the prime minister said he was stepping down. Crude advanced as wildfires disrupted production in Canada. Treasuries rose a fourth day, with economists lowering predictions for how high the central bank will be able to lift interest rates.