US Stocks React Volatilely as Jobs Data Takes Center Stage in the Stock Market Today
Money | July 2, 2024, 10:14 a.m.
US stocks were mixed on Tuesday as investors cautiously considered the likelihood of a rate cut and the implications of a potential Donald Trump win for the markets. The Dow Jones Industrial Average and the S&P 500 hovered near the flat line, while the Nasdaq Composite edged slightly into positive territory. With a crucial jobs report looming and political uncertainty on the horizon, stocks showed signs of fatigue. Additionally, Federal Reserve Chair Jay Powell expressed optimism about cooler inflation but emphasized the need for more evidence before cutting interest rates. On the corporate front, Tesla's shares rose after the company delivered more vehicles than expected in the second quarter. Overall, the market remains cautious amidst economic uncertainty and political risks, with traders closely monitoring key data points and market trends.