Stocks Slip Ahead of Jobs Report as Bond Yields Retreat

Stocks moved lower Thursday ahead of Friday's jobs report, coming off gains amid a bond rout reprieve. The Dow fell 0.1%, the S&P 500 dropped 0.4%, and the Nasdaq lost 0.6%.

A pullback in surging bond yields brought relief to stocks. The 10-year Treasury yield slipped after hitting 16-year highs.

Jobless claims ticked higher but undershot expectations, signaling resilience in the labor market despite Fed hikes. The jobs report could be bad for stocks whether cool or hot.

Oil prices retreated on concerns of weakening global demand. WTI crude fell below $84 after its biggest drop since last September.

Stock futures slipped Thursday as attention turns to the monthly jobs report Friday, after a retreat in bond yields. S&P 500 and Dow futures edged lower while Nasdaq 100 futures shed 0.11%.