NEW YORK, June 7 ― The S&P 500 and Nasdaq composite finished a shade lower yesterday ahead of a key labour market report, retreating from record highs reached in the previous...
The Dow Jones Industrial Average rose 78.84 points, or 0.20 per cent, to 38,886.17, the S&P 500 lost 1.07 points, or 0.02 per cent, to 5,352.96 and the Nasdaq Composite lost 14.78 points, or 0.09 per cent, to 17,173.12. ― Reuters picNEW YORK, June 7 ― The S&P 500 and Nasdaq composite finished a shade lower yesterday ahead of a key labour market report, retreating from record highs reached in the previous session. The Dow was slightly higher.
Investors will watch today's crucial US nonfarm payrolls report. The weekly jobless claims report was the latest data to indicate labour market easing, which could allow the Federal Reserve begin cutting interest rates. The European Central Bank delivered its first interest rate cut since 2019. Traders see a 68 per cent chance of a September rate reduction, according to the CME's FedWatch tool, and have priced in about two cuts this year, as per data from LSEG. Forecasters polled by Reuters also expect two cuts.
Lululemon Athletica rose 4.8 per cent after beating expectations for first-quarter profit and revenue on Wednesday. Advancing issues outnumbered decliners by a 1.05-to-1 ratio on the NYSE. On the Nasdaq, 1,729 stocks rose and 2,445 fell as declining issues outnumbered advancers by a 1.41-to-1 ratio.
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