Wall Street cleaves between winners and losers on report showing slowing economy
==========
U.S. stocks were split on a report suggesting a cooling job market, with the S&P 500 index ticking up by 0.2% and the Dow Jones industrial average rising 0.4%. The bond market saw Treasury yields slide after the report, leading to expectations of interest rate cuts later this year. The question is whether the slowdown will lead to a painful recession, which would result in layoffs and weaker profits for companies. The report also showed a drop in U.S. job openings at the end of April, signaling a return to a normal job market. Concerns about a slowing economy have affected the price of crude oil, causing oil and gas stocks to decline. Dividend-paying stocks and some Big Tech stocks performed well, benefiting from lower interest rates and rising regardless of the economy. In the bond market, the yield on the 10-year Treasury slid to 4.33%. In international markets, India's Sensex dropped 5.7% after a jump of 3.4% following the country's elections. Indexes were mixed in Asia and lower in Europe.
#WallStreet #StockMarket #Economy #JobMarket #InterestRates
https://www.latimes.com/business/story/2024-06-04/stock-market-today-wall-street-cleaves-between-winners-and-losers-on-report-showing-slowing-economy
Los Angeles Times /
npub1ka…ct50x
2024-06-04 23:14:22
Author Public Key
npub1kat3x50s05kl9v0lqxq5qsl0znf0eu2rwyeq4xyplj80ga740k9q9ct50xPublished at
2024-06-04 23:14:22Event JSON
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"content": "Wall Street cleaves between winners and losers on report showing slowing economy\n==========\n\nU.S. stocks were split on a report suggesting a cooling job market, with the S\u0026P 500 index ticking up by 0.2% and the Dow Jones industrial average rising 0.4%. The bond market saw Treasury yields slide after the report, leading to expectations of interest rate cuts later this year. The question is whether the slowdown will lead to a painful recession, which would result in layoffs and weaker profits for companies. The report also showed a drop in U.S. job openings at the end of April, signaling a return to a normal job market. Concerns about a slowing economy have affected the price of crude oil, causing oil and gas stocks to decline. Dividend-paying stocks and some Big Tech stocks performed well, benefiting from lower interest rates and rising regardless of the economy. In the bond market, the yield on the 10-year Treasury slid to 4.33%. In international markets, India's Sensex dropped 5.7% after a jump of 3.4% following the country's elections. Indexes were mixed in Asia and lower in Europe.\n\n#WallStreet #StockMarket #Economy #JobMarket #InterestRates\n\nhttps://www.latimes.com/business/story/2024-06-04/stock-market-today-wall-street-cleaves-between-winners-and-losers-on-report-showing-slowing-economy",
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