Stock market today: Wall Street cleaves between winners and losers on report showing slowing economy
==========
U.S. stocks were split among winners and losers after a report suggested the job market is cooling, the latest signal of a slowing economy that offers both upsides and downsides for Wall Street. The S&P 500 ticked up by 0.2%, though more stocks within the index fell than rose. The Dow Jones Industrial Average rose 140 points, or 0.4%, and the Nasdaq composite added 0.2%. Wall Street wants the job market and overall economy to slow to help get inflation under control and convince the Federal Reserve to cut rates, which would ease the pressure on financial markets. The number of U.S. job openings at the end of April dropped to the lowest level since 2021. Worries about a slowing economy have hit the price of crude oil, raising the possibility of less growth in demand for fuel. Dividend-paying stocks and some Big Tech stocks drove the market higher. The S&P 500 rose 7.94 points to 5,291.34. The Dow gained 140.26 to 38,711.29, and the Nasdaq added 28.38 to 16,857.05.
#StockMarket #WallStreet #JobMarket #Economy #Inflation #FederalReserve #CrudeOil #DividendpayingStocks #BigTechStocks
https://apnews.com/article/stock-market-rates-inflation-3fa48a6ed288b4b0da9a939d171d0b60
Oddbean new post about login | logout