The Dow Jones Industrial Average closed down 41.59 points (0.34 percent) at 12,248.55. S & P 500 Index dropped 1.61 points (0.12 percent) to 1312.94, while the Nasdaq composite index of technology stocks edged up 4.12 points (0.15 percent) to the position of 2773.31. Quite choppy trade after massive selling on Wednesday, driven by grim economic indicators on employment and manufacturing. "Trade has hardened today, after yesterday's big fall and ahead of key jobs report tomorrow, which could potentially lead to large swings in both directions," said analysts at Briefing.com.
Labor Department reported a smaller decline than expected U.S. jobless claims last week anxious to add atmosphere.
All the attention will focus on employment data May from the Department of Labor that came out before the market opened Friday. Consensus estimates for net non-farm job creation is trimmed to 169,000 on Thursday from the previous day 185,000. The unemployment rate last seen unchanged at 9.0 percent from April.
On Thursday afternoon Moody's warned that the United States faces a credit rating review and potentially decrease if the national debt limit, currently at 14.29 billion U.S. dollars, not raised in a few weeks.
"If no progress on increasing the debt limit in the coming weeks, (Moody's) estimates for putting the U.S. government's debt ratings under review for possible reduction," the company said in a statement.
Previously, Moody's has warned that the credit ratings of Bank of America, Citigroup and Wells Fargo could be lowered. Three big banks ignored the losses with BofA shares rose 0.4 percent, Citigroup increased 0.9 percent and Wells Fargo rose 0.2 percent.
Goldman Sachs is under pressure amid reports had received a subpoena from the Manhattan prosecutor's office as part of the investigation activities that encourage companies to the financial crisis.
A source close to the things that confirm the report, told AFP, while Goldman spokesman declined comment. Shares of investment banks was down 1.3 percent to 134.38 U.S. dollars.
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