US stocks trade mixed as tech names drag the Nasdaq lower for the 5th session in a row

• The Nasdaq dropped for the fifth session in a row, while the Dow inched up on Thursday.
• Shares of Apple, Amazon, and Microsoft fell in the session as tech gets off to a rough start to 2024. 
• Private payrolls came in hotter than expected for December. Traders are looking ahead to Friday's jobs report.

US stocks traded mixed on Thursday, with the Dow Jones Industrial Average climbing and the S&P 500 and Nasdaq ending lower for the day.  

Shares of Amazon, Microsoft, and Apple dipped, helping bring the tech-heavy Nasdaq to its fifth consecutive losing session. 

Apple in particular has had a tough week, facing two Wall Street downgrades from Barclays and Piper Sandler. The stock shed another 1.2% on Thursday to end the session at $TKTKT a share. 

Meanwhile, ADP's report released before the opening bell showed that private payrolls jumped 164,000 in December, above estimates of 130,000, and above November's revised reading of 101,000.

The hotter-than-expected reading suggests the Federal Reserve could stay hawkish to keep a lid on inflation and to keep the economy from overheating again. Fed meeting minutes released on Wednesday showed that central bankers believe they still have work to do in order to keep a lid on inflation. 

"The latest Fed Minutes revealed the committee is focusing on the labor market as members see downside risk to the job market throughout 2024, putting more focus on the job market," Jeffrey Roach, chief economist for LPL Financial wrote in a note.

Weekly jobless claims dipped to their lowest mark in two months, and on Wednesday, additional data showed job openings softened to a three-year low in November.

Investors are now turning to the December employment report set to publish Friday, and markets will be watching any change in the unemployment rate, the share of people working full- or part-time, and the pace of wage growth. 

Bloomberg economists forecast nonfarm payrolls increased by 175,000 in December, and unemployment will hover at 3.8%. 

"Markets could be choppy if the Fed is right and the job market ends up being weaker than expected," Roach said. 

Here's where US indexes stood as the market closed at 4:00 p.m. on Thursday: 

• S&P 500: 4,688.68, down 0.34% 

• Dow Jones Industrial Average: 37,440.34, up 0.03% (+10.15 points)

• Nasdaq Composite: 14,510.30, down 0.56% 

Here's what else is going on: 

• This is what has to happen for the world's best-performing ETF to stay on top in 2024.
• One chart illustrates what investors can expect in a crucial election year.
• Goldman's former commodities chief said demand isn't to blame for crashing energy prices. 
• Goldman Sachs reportedly wants in on the bitcoin ETF hype.
• Ed Yardeni broke down four big risks for stocks in the first half of the year.
• Here's what LendingTree expects for the housing market in 2024.

In commodities, bonds, and crypto: 

• Oil prices dropped, with West Texas Intermediate down 0.4% to $72.39 a barrel. Brent crude, the international benchmark, lower 0.7% to $77.68 a barrel.
• Gold edged higher 0.46% to $2,051 per ounce.
• The 10-year Treasury yield moved higher nine basis points to hover at 3.999%.
• Bitcoin climbed 2.98% to $44,015.