Dow slips ahead of Friday’s jobs report | Coinbase shares soar | Jobless claims rise

The Dow slipped Thursday as Wall Street awaits the July jobs report.

VIEW IN BROWSER | SUBSCRIBE THU, AUG 04, 2022 EVENING BRIEF AS OF THU, AUG 04, 2022 • 05:02 ET DJIA 32726.82 -0.26% -85.68 S&P 500 4151.94 -0.08% -3.23 NASDAQ 12720.58 +0.41% +52.42 Most Active DOW NAME LAST CHG %CHG AAPL 165.81 -0.32 -0.19% INTC 35.66 -0.49 -1.37% VZ 44.43 -0.90 -1.99% S&P 500 NAME LAST CHG %CHG AMD 103.91 +5.82 +5.93% F 15.37 -0.32 -2.04% AMZN 142.57 +3.05 +2.19% NASDAQ NAME LAST CHG %CHG AMD 103.91 +5.82 +5.93% AMZN 142.57 +3.05 +2.19% AAPL 165.81 -0.32 -0.19% EDITOR'S NOTE Stocks wavered Thursday, with the Dow Jones Industrial Average and the S&P 500 taking a breather after Wednesday's gains, as investors awaited the Friday jobs report.  Weekly jobless claims showed that 260,000 people filed initial claims for unemployment insurance in the week ending July 30, a slight uptick from the previous report. In addition, a slew of misses on quarterly reports weighed on stocks, including Eli Lilly, Lucid and Shake Shack.   Fears of a global recession mounted, sending oil prices sliding to levels not seen since before Russia invaded Ukraine in February.   Cleveland Federal Reserve president Loretta Mester reiterated comments that the central bank will keep hiking rates.  Investors are waiting to see what the July jobs report brings to further judge the state of the U.S. economy. The report, which will be released by the Bureau of Labor Statistics Friday morning, will show how the labor market reacted since the Fed's latest interest rate hike.  Economists expect to see that employers added jobs in July, albeit at a slower pace than previous months. The consensus estimate is a 258,000 job addition in July, down from 372,000 in June. The jobless rate is forecast to remain 3.6%, according to Dow Jones. If the report matches estimates, it could be a sign that the economy is slowing down, hopefully enough to combat inflation. It would also mean that the labor market is still relatively strong. For now, a healthy labor market throws cold water on the debate that the U.S. is in a recession, even after two quarters of negative GDP.  Carmen Reinicke | Investing Reporter at CNBC Pro @csreinicke Watch our live stream for all you need to know to invest smarter. Watch Live TOP NEWS Dow slips as Wall Street awaits July jobs report Coinbase shares soar in boost from meme traders, BlackRock crypto deal Biden administration declares monkeypox outbreak a public health emergency in the U.S. WNBA star Brittney Griner sentenced to nine years in prison by Russian court Weekly jobless claims rise to 260,000 ahead of nonfarm payrolls report HSBC thinks this market comeback is wishful thinking and is 'maximum underweight' stocks Job cuts and smaller bonuses loom for Wall Street amid collapse in IPOs and stock issuance Bank of England launches biggest interest rate hike in 27 years, predicts lengthy recession These stocks are cheap even if there is a recession, UBS says Beyond Meat cuts its revenue outlook for the year, says it's trimming workforce TOP VIDEO If we go into recession people will still travel but may trade down, says Oppenheimer's Kelly CNBC PRO Goldman says market mechanics indicate there could be another leg lower SPECIAL REPORTS Would you be included in student loan forgiveness? What we know so far 'One actionable thing' that can save prospective homebuyers up to $104,000 over the life of their mortgage Unsubscribe Digital Products Manage Newsletters Feedback Terms of Service Privacy Policy Join the CNBC Panel © 2022 CNBC LLC. All rights reserved. A property of NBCUniversal.   900 Sylvan Avenue, Englewood Cliffs, NJ 07632   Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis.   Data also provided by THOMSON REUTERS