Retailers and other consumer companies fell ahead of jobs data.
Initial jobless claims, a proxy for layoffs, increased to a seasonally adjusted 219,000 last week from a revised 190,000 the week before, the Labor Department said.
On Friday, the Labor Department will release the September jobs tally.
"I'm wondering tomorrow how we take good news out of this," said JJ Kinahan, chief executive of IG North America.
"You could say, 'more people are employed...that's good for economy but does that mean more inflationary pressure?'" An increase in the unemployment rate would also be a double-edged sword for markets, Mr. Kinahan said.
In a good sign for inflation, food processor Conagra Brands forecast moderation in the transportation and raw-material costs that have helped drive up food prices over the past year. ConAgra's sales rose 9.5% to $2.9 billion.
Spirits maker Constellation Brands raised its full-year growth projection, citing growing demand for beer, but weakness at its cannabis unit weighed on shares.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
10-06-22 1729ET
