Wall St closes lower ahead of jobs data

United States stocks erased earlier gains to close slightly lower as investors digested upbeat US auto sales figures ahead of a closely-watched US labour market report due to be released at the end of the week.

United States stocks erased earlier gains to close slightly lower as investors digested upbeat US auto sales figures ahead of a closely-watched US labour market report due to be released at the end of the week.

The auto sales figures initially sparked a rally on Wall Street, but were later overtaken by cautious traders wary of what impact the labour data may have on the US economic outlook.

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