The Dow fell as losses in Cisco shares due to slowing product demand clouded Walmart's strong annual forecast.
Wall Street's main indexes ended the previous session higher after President Joe Biden and top U.S. congressional Republican Kevin McCarthy reiterated their aim to strikeMeanwhile, data showed the number of Americans filingfor jobless benefits fell more than expected last week, suggesting the labor market remains tight.
"What are looking at is still an economy that's doing okay, but still showing some signs of weakness. Because the job picture is stronger, it means that the Fed is not likely to sit on the sidelines," said Paul Nolte senior wealth advisor and market strategist at Murphy & Sylvest. The labor market and inflation readings are being closely watched for any signs of stress from the Federal Reserve's most aggressive interest rate hikes in decades.
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