Stocks ended lower on Thursday as investors digested a better-than-expected prints on the labor market, as well as a report that President Joe Biden would be open to revising his proposal to increase the corporate tax rate.

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The Washington Post reported that Biden was reconsidering his previous proposal to raise the corporate tax rate to 28% from 21%, which had been seen as a major roadblock to winning Republican support for his infrastructure plans. Instead, he would recommend a minimum corporate tax rate of 15%, according to the news outlet. 

Meanwhile, investors considered a handful of stronger-than-expected reports on the state of the labor market in the U.S. ADP posted its closely watched report on private payroll changes for May Thursday morning, which showed a better than expected 978,000 jobs were added back last month versus the 650,000 expected. And the…

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