All three major US indices ended lower, with the broad-based S&P 500 down 0.3 percent while investors awaited Apple and Amazon's earnings reports after the closing bell.
"The decision by the credit agency to cut the rating led to higher US government bond yields which in turn has a negative impact on equities," he said. While data released Thursday on unemployment, labor productivity and costs were in line with the US economy dodging a downturn, it failed to boost stocks.analyst Patrick O'Hare said there is a "nagging notion that the stock market is due for a pullback after its big run, which is perhaps the key sentiment overhang at the moment.
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