Wall Street equities end lower after three-day rally

NEW YORK (AFP) - US stocks took a breather from this week's stretch of gains on Thursday (Dec 9), with two of the three main indices closing with solid losses and the Dow ending flat. The declines ended a three-day rally that took Wall Street back near record territory, amid positive data on the jobs markets but a day before a key inflation report. The Dow Jones Industrial Average ended at 35,754.69, less than a point below Wednesday's close. The broad-based S&P 500 lost 0.7 per cent to finish at 4,667.45, while the tech-rich Nasdaq Composite Index was the biggest loser, dropping 1.7 per cent to 15,517.37. "I don't see where the selling pressure really comes from," said Ms Maris Ogg of Tower Bridge Advisors. "I'm not sure it's very obvious where the buying pressure would come from either. So we probably just waffle around for the rest of the year." Investors appear to have got over concerns about the latest Covid-19 variant while new claims for jobless benefits dropped sharply last week, again bringing them to levels not seen since 1969. Attention now turns to Friday's much-anticipated November consumer price data. Rising worries about inflation have prompted the Federal Reserve to...