REUTERS: The S&P 500 and Nasdaq were set to ease from record levels at the open on Thursday as a rally in technology stocks cooled and elevated levels of weekly jobless claims fueled worries about a struggling U.S. labor market.
Wall Street has rallied in recent weeks with the S&P 500 and Nasdaq hitting new closing highs, driven by the strength in tech-focused companies and unprecedented fiscal and monetary stimulus measures. But signs that the U.S. economic recovery is faltering has raised concerns about depleting fiscal aid. Investors are hopeful that the next coronavirus relief bill could be unveiled in the coming days.Later in the day, data is likely to show ISM's services index ticked lower to 57 in August from 58.1.
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