New York Report: Investors wait for jobs report

US STOCKS slipped yesterday as investors turned cautious ahead of today’s monthly jobs report, while a drop in biotech and momentum shares dragged the Nasdaq down nearly one per cent.

Among momentum stocks, the shares of Tesla Motors fell 2.1 per cent to $225.40 and the shares of Netflix, the online movie rental company, lost 2.3 per cent to close at $354.69. Facebook shares fell 5.2 per cent to end at $59.49.

Investors were reluctant to make big bets ahead of today’s payrolls report, when they will be looking for evidence that recent weather-related weakness in the economy has passed.

The Dow Jones industrial average dipped 0.45 of a point to close at 16,572.55. The S&P 500 slipped 2.13 points or 0.11 per cent, to finish at 1,888.77. The Nasdaq Composite dropped 38.716 points or 0.91 per cent, to end at 4,237.74.