"At the same time, the economic data has just not been good enough to get investors excited about buying into other areas of the market." The Dow Jones Industrial Average fell 14.66 points, or 0.07 percent, to 21,359.9, the S&P 500 lost 5.46 points, or 0.22 percent, to 2,432.46 and the Nasdaq Composite dropped 29.39 points, or 0.47 percent, to 6,165.50.
Following that disappointing economic data, a report on Thursday showed the number of Americans filing for unemployment benefits fell more than expected last week, pointing to shrinking labor market slack that could allow the Fed to raise interest rates again this year despite moderate inflation growth.
President Donald Trump is likely to nominate former Senate aide Hester Peirce to an open seat on the Securities and Exchange Commission, Bloomberg News reported on Friday, citing unnamed people familiar with the matter.
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