Wall Street closed lower on Thursday as energy shares were weighed down by falling crude prices while U.S. treasury yields rose and gold prices fell as investors bet U.S. jobs on Friday could help prompt an interest rate hike as soon as next month.
A day after Federal Reserve Chair Janet Yellen referred to December as a “live possibility” for a U.S. rate hike, investors were waiting for Friday’s key monthly nonfarm payrolls report to gauge if the data is strong enough to prompt a liftoff.
“This is a big piece of data as to what the Fed is looking for. If it shows up weak we may not get a rate hike,” said Scott Colyer, chief executive officer of Advisors Asset Management in Monument, Colorado, adding that stocks could rise on a strong jobs number as it would be a good sign for the economy.
“I think everybody wants them to move or not move. The month-to-month stuff is killing everybody,” he said as the market has been whipsawed all year by speculation on timing of a rate hike.
The Dow Jones industrial average fell 4.15 points, or 0.02 percent, to 17,863.43, the S&P 500 lost 2.38 points, or 0.11 percent, to 2,099.93 and the Nasdaq Composite dropped 14.74 points, or 0.29 percent, to 5,127.74.
Weak oil prices weighed on energy and a slump in gold and copper dragged on the materials sector. Energy shares led the S&P decline with a 1 percent drop. Interest-rate-sensitive utilities were the next weakest sector, followed by materials.
Illumina, Inc. (NASDAQ:ILMN) stock edged lower by -2.71% to close Tuesday’s session at USD 154.75. The company’s shares hovered between USD 242.37 and USD 130.00 (marking a new 52-week high/low) during the session. The stock traded with the volume of 2.70 million shares, which was above its 3 month average volume of 1.96 million shares. Over the last 5 days, Illumina, Inc‘s shares have rose by 6.20% and in the past one month it has moved up 6.04%. Illumina, Inc. (NASDAQ:ILMN) announced that its Board of Directors has authorized the company to repurchase, on a discretionary basis, up to $250 million of its outstanding common shares in the open market or in privately negotiated transactions, subject to market conditions and other factors. The company also announced the completion of the existing discretionary authorization of $96 million that was repurchased since the company reported earnings on October 20th.
Jazz Pharmaceuticals plc – Ordinary Shares (NASDAQ:JAZZ) lost -1.64% to close Tuesday’s session at USD 140.56. The shares of the company fluctuated in the range of USD 194.73 and USD 117.26 (marking a new 52-week high/low) during the session. A trading volume of 796,116.00 shares was recorded, which was less than its 1 month daily average volume of 948,768.00 shares. Over the three months, Jazz Pharmaceuticals plc – Ordinary Shares‘s shares have declined by -22.68% and in the past one year, it has lost -15.92%. Jazz Pharmaceuticals plc – Ordinary Shares (NASDAQ:JAZZ) announced that the company will be webcasting its corporate presentation at three upcoming investor conferences. 24th Annual Credit Suisse Healthcare Conference in Scottsdale, AZ on Wednesday, November 11, 2015 at 11:00 a.m. EST / 4:00 p.m. GMT. Russell Cox, executive vice president and chief operating officer, will provide an overview of the company and a business and financial update. efferies Autumn 2015 Global Healthcare Conference in London, England on Thursday, November 19, 2015 at 10:40 a.m. GMT / 5:40 a.m. EST. Iain McGill, senior vice president, Jazz Pharmaceuticals Europe and rest of world, will provide an overview of the company and a business and financial update.
Biogen Inc (NASDAQ:BIIB)‘s stock decreased by -1.19% to close Tuesday’s session at USD 293.03. The Company’s shares oscillated in the range of USD 288.50 and USD 295.01. A total of 2.26 million shares exchanged hands, which followed its 1 month daily average volume of 3.59 million shares. Over the last five days Biogen Inc‘s shares have declined by -0.23% and in the past six months it has moved down -26.45%. Biogen Inc (NASDAQ:BIIB) reported third quarter 2015 results, including revenues of $2.8 billion, an 11% increase compared to the third quarter of 2014. Non-GAAP diluted earnings per share (EPS) for the third quarter of 2015 were $4.48, an increase of 18% over the third quarter of 2014. Non-GAAP net income attributable to Biogen for the third quarter of 2015 was $1.0 billion, an increase of 16% over the third quarter of 2014.