Reported 4 months ago
US stocks turned positive on Tuesday amid concerns over cracks in the US economy, with the S&P 500 and Nasdaq rising 0.1% while the Dow Jones Industrial Average went up about 0.4%. Investors are adjusting rate-cut expectations after weaker-than-expected economic data, with almost two-thirds now expecting at least one cut by the Fed's September meeting. Concerns over a cooling labor market were raised as new government data showed job openings fell in April to their lowest level since February 2021, ahead of the crucial May jobs report on Friday. GameStop's rally lost steam, falling about 5% after a 21% surge, while Paramount unveiled a cost-cutting strategy amidst a possible sale to Skydance Media, and Ford reported soaring US sales in May driven by hybrids and trucks.
Source: YAHOO