From Nasdaq:

The S&P 500 and Nasdaq Composite closed lower on Thursday, marking the worst start to a year for the S&P 500 since 2015, as tech-focused investors continued to take profits after a strong rally. The Dow Jones Industrial eked out a win backed by financial stocks and strong jobs data.

Bets that the Federal Reserve could start reducing rates continued to drive gains but the latest central bank minutes offered few clues on when easing might begin. Yields on 10-year U.S. Treasuries ended at 4%, prompting traders to move from growth stocks to other sectors. Allstate and other insurers rose, as did banking stocks, ahead of earnings season next week.

Financials were one of the few gainers, led by Allstate which reached an all-time high. U.S. private employers hired more workers than expected in December, according to the ADP National Employment report,
pointing w to persistent labor market strength that should continue to sustain the economy.

The S&P 500 lost 0.34% while the Dow Jones Industrial Average rose 0.03%. Most S&P sectors were down, led by a 1.6% fall in energy after a massive U.S. fuel inventory build pushed crude prices lower. Several big-tech names also ended lower, with Amazon.com Inc down 2.6% and Alphabet Inc declining 1.8%.

Mobileye Global dropped 24.5% after forecasting preliminary fiscal 2024 revenue below estimates, while Walgreens Boots Alliance dropped 5.1% after nearly halving its dividend. The volume on U.S. exchanges was 11.13 billion shares.



Read more: US STOCKS-S&P, Nasdaq extend year-start skid to three; Dow higher on financials