U.S. stocks held relatively steady after a report suggested the job market is cooling.
The S&P 500 edged up 0.2% Tuesday. The Dow Jones Industrial Average rose 0.4%, and the Nasdaq composite added 0.2%. Treasury yields slid after the report showed U.S. employers advertised fewer job openings at the end of April than economists expected.
Wall Street actually wants the job market and overall economy to slow. That could convince the Federal Reserve to cut interest rates. The question is whether the slowdown for the economy overshoots and ends up in a painful recession that drags down corporate profits.
On Tuesday:
The S&P 500 rose 7.94 points, or 0.2%, to 5,291.34.
The Dow Jones Industrial Average rose 140.26 points, or 0.4%, to 38,711.29.
The Nasdaq composite rose 28.38 points, or 0.2%, to 16,857.05.
The Russell 2000 index of smaller companies fell 25.74 points, or 1.2%, to 2,033.94.
For the week:
The S&P 500 is up 13.83 points, or 0.3%.
The Dow is up 24.97 points, or 0.1%.
The Nasdaq is up 122.03 points, or 0.7%.
The Russell 2000 is down 36.18 points, or 1.7%.
For the year:
The S&P 500 is up 521.51 points, or 10.9%.
The Dow is up 1,021.75 points, or 2.7%.
The Nasdaq is up 1,845.70 points, or 12.3%.
The Russell 2000 is up 6.87 points, or 0.3%.
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