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U.S. stocks open lower ahead of key jobs report

Xinhua, March 3, 2016 Adjust font size:

U.S. stocks opened lower Thursday, as investors await Friday's key jobs report, while digesting the economic data released so far.

On the economic front, in the week ending Feb. 27, the advance figure for seasonally adjusted initial claims was 278,000, an increase of 6,000 from the previous week's unrevised level and beating market estimates, according to the U.S. Labor Department Thursday.

Traders were looking to the key non-farm payrolls report due Friday and more hints on future monetary policy at the U.S. Federal Reserve's March meeting.

The U.S. non-manufacturing survey for February will be released by the Institute for Supply Management (ISM) later Thursday.

Shortly after the opening bell, the Dow Jones Industrial Average lost 37.81 points, or 0.22 percent, to 16,861.51. The S&P 500 fell 5.18 points, or 0.26 percent, to 1,981.27. The Nasdaq Composite Index was down 7.80 points, or 0.17 percent, to 4,695.62.

U.S. stocks ended higher Wednesday after wavering in a tight range, as Wall Street digested a better-than-expected ADP employment report ahead of Friday's key jobs report. Endi