Wall Street Wavers Amid Mixed Economic Indicators
Wall Street's main indexes made modest gains amid fluctuating economic indicators. Despite reduced payroll numbers hinting at a slowing labor market, bets on interest rate cuts from the Federal Reserve remain, driven by concerns over tariffs and inflation. UnitedHealth and Nebius were among key stock movers.
Wall Street's main indexes showed minor progress on Tuesday, staying largely subdued after closing near record highs the previous session. This comes in light of a newly revised jobs report revealing that the U.S. economy created 911,000 fewer jobs than previously estimated over the past year.
Investors continue to bet on the Federal Reserve's decision to cut interest rates amid a weakening labor market and inflation worries. The Dow, S&P 500, and Nasdaq all edged up slightly, with oil and health sectors seeing some of the day's most significant gains.
Oil prices rose following an attack by Israel in Qatar, boosting energy stocks by nearly 1.8%. Meanwhile, UnitedHealth and the AI firm Nebius made significant individual gains following positive announcements. However, not all stocks fared well as Albemarle took a hit due to supply concerns.
(With inputs from agencies.)
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