The rally on Wall Street stalled ahead of Friday's US employment report, with traders squaring positions rather than adding risk before a number that will shape expectations for the Federal Reserve's next move.
The S&P 500 slipped 0.18% to 7,710. The Dow Jones Industrial Average fell 0.85% to 53,885, while the Nasdaq was close to flat, down 0.06% at 26,348.
Yields and the dollar firm up
The US 10-year Treasury yield rose 1.1% to 4.681%, tightening financial conditions at the margin. The dollar index added 0.31% to 99.984. Gold gave up 0.59% to $4,253.
Nonfarm payrolls are expected to show a rebound to around 80,000. Federal Reserve official Alberto Musalem has cautioned against looking through inflation gains, warning that doing so would put the central bank's credibility at risk.
Asia in focus
Chinese trade data is also due, and several major ports near Shanghai have suspended operations ahead of an approaching typhoon — a disruption worth watching for anyone exposed to container rates or delivery schedules over the coming fortnight.
Market levels cited above reflect the most recent close before publication and will move during the session.
