US stocks floated lower on Thursday as investors waited for Friday’s crucial jobs report and bitcoin (BTC-USD) posted new all-time highs above the key $100,000 milestone.

After all three major averages closed at records on Wednesday, the Dow Jones Industrial Average (^DJI) slid about 0.3 per cent, while the S&P 500 (^GSPC) hovered around the flat line.

Meanwhile, the tech-heavy Nasdaq Composite (^IXIC) was narrowly in positive territory. Investors are counting down to Friday’s monthly jobs report for a reality check on Jerome Powell’s upbeat take on the strength of the US economy.

While the Federal Reserve Chair said that means policymakers can move cautiously, he stopped short of challenging the market’s belief in a December rate cut.

Traders have slightly pared their bets on easing, pricing in a 74 per cent chance the Fed will cut by 25 basis points on Dec. 18, per the CME FedWatch tool. That compares to around 77 per cent on Wednesday and 67 per cent a week ago.

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