US stocks close lower ahead of major economic data

The major US stock indices closed lower on Wednesday, as Dow Jones fell for the third straight day, ahead of key US inflation data.

The US 10-year Treasury yield fell today below 1.5% for the first time since May 7.

Markets await US inflation data tomorrow, which would set estimates correctly for policy tightening by the Fed in the next few years, amid forecasts for the US consumer price index by 0.4%.

The weekly jobless claims will also be released, which is considered a preliminary gauge of the labor mark

To the oil market, WTI crude July futures fell 0.1% or 9 cents, and closed at $69.96 a barrel, after hitting a high of $70.6 and a low of $69.4.

Brent August futures held $72.22 a barrel, after hitting a high of $72.8 and a low of $71.8.

As for stocks, Dow Jones fell 0.4% or 152 points, and closed at 34,447, with a day high of 34,654, and a low of 34,439.

S&P 500 fell 0.2% or 7 points to 4,219, after hitting a high of 4,237 and a low of 4,218.

Nasdaq fell 0.1% or 13 points to 13,911, with a high of 14,003 and a low of 13,906.