Wall Street drifts to mixed finish after the latest signal of a slowing economy
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U.S. stocks drifted to a mixed finish on June 3, 2024, after the latest signal showing the U.S. economy is slowing. The Standard & Poor’s 500 edged up by 5.89 points, or 0.1%, to 5,283.40, even though the majority of stocks within the index fell. The Dow Jones industrial average dropped 115.29 points, or 0.3%, to 38,571.03, and the Nasdaq composite rose 93.65 points, or 0.6%, to 16,828.67. Treasury yields also slid in the bond market after a report showed U.S. manufacturing shrank in May for the 18th time in 19 months. Stocks of companies tied to the strength of the economy dropped, including the oil and gas industry. Halliburton dropped 5.3%, and Exxon Mobil fell 2.4%. On the winning side were some big technology stocks, with Nvidia climbing 4.9% and GameStop soaring 21%. In the bond market, the yield on the 10-year Treasury fell to 4.39% from 4.50% late Friday. The two-year yield fell to 4.81% from 4.88%. This week has several high-profile economic reports that could send yields on additional sharp swings. In stock markets abroad, India’s Sensex jumped 3.4% after the country’s six-week-long national election came to an end with most exit polls projecting that Prime Minister Narendra Modi will extend his decade in power with a third consecutive term. Stocks in Mexico slumped 6% after Claudia Sheinbaum claimed victory in that country’s presidential election.
#WallStreet #UsEconomy #StockMarket #Standard&Poor’s500 #DowJonesIndustrialAverage #NasdaqComposite #TreasuryYields #Manufacturing #OilAndGasIndustry #TechnologyStocks #Nvidia #Gamestop #BondMarket #10yearTreasury #India #Mexico
https://www.latimes.com/business/story/2024-06-03/stock-market-today-wall-street-drifts-to-mixed-finish-after-the-latest-signal-of-a-slowing-economy
Los Angeles Times /
npub1ka…ct50x
2024-06-03 22:09:23
Author Public Key
npub1kat3x50s05kl9v0lqxq5qsl0znf0eu2rwyeq4xyplj80ga740k9q9ct50xPublished at
2024-06-03 22:09:23Event JSON
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"content": "Wall Street drifts to mixed finish after the latest signal of a slowing economy\n==========\n\nU.S. stocks drifted to a mixed finish on June 3, 2024, after the latest signal showing the U.S. economy is slowing. The Standard \u0026 Poor’s 500 edged up by 5.89 points, or 0.1%, to 5,283.40, even though the majority of stocks within the index fell. The Dow Jones industrial average dropped 115.29 points, or 0.3%, to 38,571.03, and the Nasdaq composite rose 93.65 points, or 0.6%, to 16,828.67. Treasury yields also slid in the bond market after a report showed U.S. manufacturing shrank in May for the 18th time in 19 months. Stocks of companies tied to the strength of the economy dropped, including the oil and gas industry. Halliburton dropped 5.3%, and Exxon Mobil fell 2.4%. On the winning side were some big technology stocks, with Nvidia climbing 4.9% and GameStop soaring 21%. In the bond market, the yield on the 10-year Treasury fell to 4.39% from 4.50% late Friday. The two-year yield fell to 4.81% from 4.88%. This week has several high-profile economic reports that could send yields on additional sharp swings. In stock markets abroad, India’s Sensex jumped 3.4% after the country’s six-week-long national election came to an end with most exit polls projecting that Prime Minister Narendra Modi will extend his decade in power with a third consecutive term. Stocks in Mexico slumped 6% after Claudia Sheinbaum claimed victory in that country’s presidential election.\n\n#WallStreet #UsEconomy #StockMarket #Standard\u0026Poor’s500 #DowJonesIndustrialAverage #NasdaqComposite #TreasuryYields #Manufacturing #OilAndGasIndustry #TechnologyStocks #Nvidia #Gamestop #BondMarket #10yearTreasury #India #Mexico\n\nhttps://www.latimes.com/business/story/2024-06-03/stock-market-today-wall-street-drifts-to-mixed-finish-after-the-latest-signal-of-a-slowing-economy",
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