The Closing Look

Stocks opened higher but closed mixed to lower on Thursday as investors waited for Friday’s always fun jobs report. Before the open, ADP, the country’s largest private payrolls company, said U.S. employers added  172,000 new jobs in June, beating estimates for 150,000. A separate report showed that weekly jobless claims slid by 16,000 to 254,000 last week, beating estimates for 269,000. Around 11am EST, crude oil plunged after the latest inventory data was released.

Gary’s Thoughts: Market “feels” like a ping pong game right now. Will be back after fake job’s number tomorrow.