Fitbit board meeting
The Dow rose 9.5 points, after earlier rising as much as 85 points. The Nasdaq fell 0.2%, while the S&P edged down fractionally.
First-quarter profits for S&P companies are on track to fall 7.1% in the first quarter from a year earlier, according to FactSet. It would be the fourth-consecutive decline. The S&P 500 and Dow closed today at their lowest levels since mid-April, after falling for four of the last five days.
The market is highly sensitive to economic data right now and central bankers don’t have a huge amount of ammunition to manage the economic cycle if it deteriorates.
The April unemployment figures are released tomorrow. The consensus is around 200,000 jobs.
The dollar rallied for the third day in a row, but oil managed to close slightly green. The jury is still out, but if the dollar can get a sustained rally going, the bloom will come off the rose in oil, commodities and crude.
TSLA dropped 5% after the electric-car maker said late Wednesday that its first quarter loss doubled from last year.