Stock market today: Most of Wall Street slips as S&P 500 stays on track for worst week since April

NEW YORK — Most U.S. stocks fell following a mixed round of data on the economy, keeping them on track for their worst week since April. The S&P 500 slipped 0.3% Thursday for a third straight drop, and the Dow Jones Industrial Average fell 0.5%. The Nasdaq composite held up better than the rest of the market and rose 0.3% thanks to gains for Tesla and a handful of other Big Tech stocks. Treasury yields eased a bit ahead of a highly anticipated report on Friday. That’s when the U.S.

A report released later in the morning offered more optimism, saying growth for businesses in the mining, finance, health care and other services industries was stronger last month than economists expected. That’s when the U.S. government will say how many jobs U.S. employers added last month, and economists are expecting an acceleration of hiring. The job market’s performance could dictate how big of a cut to interest rates the Federal Reserve will deliver at its next meeting later this month.

Perhaps more importantly for investors, the 10-year yield is flirting with the end of a more than two-year stretch where it was lower than the two-year Treasury yield. That's an unusual occurrence called an “inverted yield curve." Usually, the opposite is the case, where longer-term yields tend to be higher than shorter-term yields.

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