US stocks closed lower on Thursday, snapping a win streak of three consecutive gains.
Weekly jobless claims rose less than expected, signaling the labor market may still be tight.
"Strong economic data, especially strong labor market data, keeps the Fed's foot on the economic brake," Charles Schwab's Liz Ann Sonders said.
"Strong economic data, especially strong labor market data, keeps the Fed's foot on the economic brake," Liz Ann Sonders, chief investment strategist at Charles Schwab, told Reuters.
Billionaire David Tepper said he is going short on the market into 2023 over the Federal Reserve's continued hawkishness.