Stocks fluctuated over the course of the trading session on Tuesday before eventually closing modestly lower.
The comments came after reports said the United States intelligence community has determined that North Korea has successfully produced a miniaturized nuclear warhead that can fit inside its missiles.
Unit labor costs had been expected to climb by 1.2% compared to the 2.2% jump that had been reported for the previous quarter.
Stella-Jones (SJ.TO) sales reached $594.2 million, up 5.5% from $563.1 million past year. Economists had expected productivity to increase by 0.7%.
Nonetheless, traders seemed reluctant to make more significant moves ahead of the release of reports on labor productivity and costs and producer and consumer price inflation in the coming days.
In a speech on Monday, St. Louis Fed President James Bullard said the current level of interest rates is likely to remain appropriate over the near term amid subdued inflation.
Other stock indexes also ended the day lower.
Declining issues outnumbered advancers on the NYSE by 1,859 to 737.
Jacksonville mother admits to killing 11-year-old, driving with body
According to the newspaper, Newsome also told Dillon Kaye-lea did not move, eat, drink, speak, or use the bathroom for two days. The child's body was found near a wrecked auto in West Virginia on Sunday, according to The Pocahontas Times.
Iranian drone comes within 100 feet of US Navy jet
The jet had to maneuver to avoid collision with the QOM-1, coming just 200 feet laterally and 100 feet vertically of each other. Tuesday's drone incident was the 13th unsafe or unprofessional maritime encounter with Iran of 2017, the newspaper reported .
9/11 victim identified 16 years after terror attack in New York City
The latest identification follows the use of more sensitive DNA technology since the start of the year. A victim of the 9/11 attacks has been identified, almost 16 years later, medical examiners said.
US crude oil inventories fell by 6.5 million barrels to 1.15 billion barrels while gasoline inventories rose 3.4 million barrels to 231.1 million barrels in the week ended August 4, the Energy Information Administration reported Wednesday. Depomed (DEPO) posted a particularly steep loss after lowering its full-year guidance.
On the USA economic front, the Labor Department released a report showing labor productivity increased by slightly more than expected in the second quarter.
In overseas trading, stock markets across the Asia-Pacific region moved mostly lower during trading on Wednesday.
The major European markets have also shown notable moves to the downside on the day.
Ten out of the 11 major S&P 500 sectors fell after the comments with the only gains seen in the utilities sector. The UK's FTSE 100 Index increased 0.1%, France's CAC 40 Index rose 0.2% and Germany's DAX Index added 0.3%. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is down by 5.5 basis points at 2.228%.
In the bond market, treasuries have moved sharply higher due to their appeal as a safe haven amid geopolitical tensions.
Trader reaction to company earnings also contributed to the slide on Wall Street, which had been trading in record territory.