Reported 4 months ago
US stocks edged higher amid a shift in investors' rate-cut expectations following weaker-than-expected economic data. The S&P 500 and Nasdaq rose around 0.1%, erasing earlier losses, while the Dow Jones gained about 0.4%. Traders are adjusting their rate-cut forecasts, with almost two-thirds now expecting at least one cut by September. Job openings fell to the lowest since February 2021, signaling labor market rebalancing. GameStop's rally lost steam. Meanwhile, Ford's US sales surged 11.2% in May, led by hybrids and trucks, oil prices fell amid weak manufacturing data, and Bitcoin climbed above $70,000.
Source: YAHOO