S&P 500 and Nasdaq open lower amid strong employment data

The Standard & Poor’s 500 and Nasdaq indexes opened lower on Thursday after a stronger-than-expected private sector jobs report indicated a strong labor market, which calmed expectations about the imminence of interest rate cuts.

According to Reuters, the Standard & Poor’s 500 index opened down 5.27 points, or 0.11%, to 4,698.72 points, while the Nasdaq Composite index fell 47.98 points, or 0.31%, to 14,545.23 points.

The Dow Jones Industrial Average rose 51.2 points, or 0.18%, to 37,498.28 points.