The US markets made a modestly lower close for a second consecutive day on Thursday after a choppy session, ahead of the release of the Labor Department's closely watched monthly jobs report after Janet Yellen's comments. The report is likely to show increase of about 190,000 jobs in October following the addition of 142,000 jobs in September. There were mixed set of economic data that too restricted any gains in the market, the Labor Department reported that initial jobless claims rose more than expected in the week ended October 31st. The report said initial jobless claims climbed to 276,000, an increase of 16,000 from the previous week's unrevised level of 260,000.
A separate report from the Labor Department showed an unexpected increase in labor productivity in the third quarter. Productivity climbed 1.6 percent in third quarter following an upwardly revised 3.5 percent jump in the second quarter. The report also said unit labor costs rose by 1.4 percent in the third quarter after tumbling by 1.8 percent in the second quarter.
The Dow Jones Industrial Average was down 4.15 points or 0.02 percent at 17,863.43. The Nasdaq Composite ended lower by 14.74 points, or 0.29 percent, at 5,127.74 and the S&P 500 closed down by 2.38 points or 0.1 percent at 2,099.93.
The Indian ADRs ended in red, HDFC Bank was down by 0.71%, ICICI Bank was down by 0.24%, Infy declined by 0.06%, Tata Motors was down by 0.23% and Wipro was down by 0.12%.
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