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Stocks were mixed Thursday. The Dow added 20 points to 25995, while the S&P 500 lost 10 points to 2878. The Nasdaq Composite fell 72 points to 7922.
The major averages were mostly lower as Technology stocks extended losses from the previous session. On the data front, private payrolls increased by 163,000 in August, well below the consensus estimates of 190,000 and the weakest reading since last October. In a separate report, an update from ISM showed activity in the service sector expanded at a faster rate than projected in August. Additional updates revealed factory orders declined more than anticipated in July, while durable goods order slipped 1.7%, in-line with expectations.
Six of 11 S&P 500 sectors finished higher but were unable to overcome a sharp decline in both the Tech and Energy groups. Technology stocks extended losses from yesterday’s session as Apple declined 1.6% to $223.10 and Facebook lost 2.8% to $162.53. Industrials were a notable outperformer as Boeing climbed 1.3% to $351.27 and Lockheed Martin added 2.4% to $328.89.
Breadth was negative on issues by 4:3 on the NYSE and by 2:1 on the Nasdaq. Composite NYSE volume was more than 4.2 billion shares.
Treasuries strengthened along the curve as the yield on the 10-year note fell two basis points to 2.88%. In commodities, WTI crude declined 1.2% to $67.90/barrel after a report revealed U.S. crude stockpiles unexpectedly climbed in the prior week. COMEX gold added 0.3% to $1199.70/ounce amid a weaker dollar.