US stocks closed down slightly on Thursday after the International Monetary Fund warned Greece ahead of its Sunday referendum that it faces a huge financial hole, and mixed jobs data dampened the US economic outlook. While the IMF was warning that Greece needed an extra 50 billion euros over the next three years to stay afloat, Greek Prime Minister Alexis Tsipras was urging voters to reject a bailout offer from lenders and saying he hoped to sign a new deal on Monday.
"Given the referendum on Sunday in Greece and the holiday weekend, at least for today the action was somewhat muted compared to the rest of the week." Michael Arone, chief investment strategist for State Street Global Advisors' US Intermediary Business.
Trading volume remained low ahead of a long weekend. US markets will not open on Friday in observance the Independence Day holiday. Slowing US job growth in June tempered expectations for a Federal Reserve interest rate increase in September.
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