Stock market today: Indexes slide as investors assess weak economic data
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US stocks slumped lower on Tuesday as early June data left investors uncertain about strength in the economy. The market retreat began Monday, after the ISM Manufacturing index report came in lower than expected, and below the previous month's figure. Concerned investors will turn their attention toward job data later in the week, with job openings data set to be published on Tuesday. Economists anticipate a drop in openings for the third consecutive month. The crucial labor report will come on, when May's payroll numbers are set to be released. Economists expect 178,000 added jobs that month, about in line with April's figure. Bank of America said in a note on Monday that a reading of 125,000-175,000 would be a Goldilocks scenario for the stock market, as it hints at continued strength in the labor market while leaving the door open for the Fed to ease monetary policy.
#StockMarket #EconomicData #Investors #IsmManufacturingIndex #JobOpenings #LaborReport #PayrollNumbers #BankOfAmerica #FedRateCuts
https://markets.businessinsider.com/news/stocks/stock-market-today-dow-jobs-economic-slowdown-fed-rate-cuts-2024-6
Markets Insider /
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2024-06-05 00:22:47
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2024-06-05 00:22:47Event JSON
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"content": "Stock market today: Indexes slide as investors assess weak economic data\n==========\n\nUS stocks slumped lower on Tuesday as early June data left investors uncertain about strength in the economy. The market retreat began Monday, after the ISM Manufacturing index report came in lower than expected, and below the previous month's figure. Concerned investors will turn their attention toward job data later in the week, with job openings data set to be published on Tuesday. Economists anticipate a drop in openings for the third consecutive month. The crucial labor report will come on, when May's payroll numbers are set to be released. Economists expect 178,000 added jobs that month, about in line with April's figure. Bank of America said in a note on Monday that a reading of 125,000-175,000 would be a Goldilocks scenario for the stock market, as it hints at continued strength in the labor market while leaving the door open for the Fed to ease monetary policy.\n\n#StockMarket #EconomicData #Investors #IsmManufacturingIndex #JobOpenings #LaborReport #PayrollNumbers #BankOfAmerica #FedRateCuts\n\nhttps://markets.businessinsider.com/news/stocks/stock-market-today-dow-jobs-economic-slowdown-fed-rate-cuts-2024-6",
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