US stocks closed modestly lower today as the latest batch of upbeat economic data made investors uneasy about more interest rate hikes by the Federal Reserve.

Upbeat earnings and a broker’s upgrade of General Motors drove stocks higher in the United States today as the latest round of data assured investors that the economy remains in good shape.

A bullish economic assessment from the Federal Reserve gave most stocks a modest lift today, but the buying lacked conviction as Wall Street looked ahead to a key jobs report due later in the week.