Wall Street tipped toward small losses early today, the Associated Press reports. Futures for the S&P 500 were 0.1% lower before the bell, while futures for the Dow Jones Industrial Average slipped 0.2%.
Stocks are near records in large part on the belief that the U.S. economy will continue to grow now that the Federal Reserve has begun cutting interest rates. The Fed last month lowered its main interest rate for the first time in more than four years and indicated more cuts will arrive through next year.
Treasury yields rose after a report Wednesday by ADP Research indicated that hiring by U.S. employers outside the government may have been stronger last month than expected.
Levi shares tumbled 12% in premarket trading after the maker of blue jeans came up short on sales projections and trimmed its fourth-quarter outlook. CEO Michelle Gass said the company was working to address areas of underperformance, including “strategic alternatives” for its Dockers brand.
U.S. benchmark crude oil gained $1.09 to $71.19 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, was up $1 to $74.90 per barrel.
The dollar was trading at 146.67 Japanese yen, up from 146.41 yen late Wednesday.
