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U.S. stocks extend losses Thursday morning as Microsoft lowers earnings guidance

40295 us stocks extend losses thursday morning as microsoft lowers earnings guidance

U.S. stock benchmarks were trading down Thursday morning, after Microsoft Corp. lowered its profit guidance for its fiscal fourth quarter. The Dow Jones Industrial Average DJIA, -0.44% was down 0.3%, the S&P 500 SPX, -0.29% fell 0.2% and the Nasdaq Composite COMP, +0.08% slipped 0.1%, according to FactSet data, at last check. All three major benchmarks closed lower Wednesday. In economic data released Thursday, unit-labor costs, a key measure of U.S. wage inflation, was revised up to a 12.6% gain in the first quarter, from an initially estimated 11.6% rise. Also, the rise in private sector payrolls in May came in below expectations.

Source: Marketwatch

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