Wall Street finished mixed on Tuesday after fresh employment data bolstered bets that the U.S. Federal Reserve will cut interest rates as soon as March.
U.S. job openings fell to more than a 2-1/2-year low in October, the strongest sign yet that higher interest rates were dampening demand for workers.
Sales of new U.S. single-family homes fell more than expected in October, likely as higher mortgage rates reduced affordability.
The S&P 500 will end next year only about 3% higher than its current level, with a possible U.S. economic slowdown or recession among the biggest risks for the market in 2024.
The number of Americans filing new claims for unemployment benefits increased to a three-month high last week.
Wall Street’s main indexes inched higher on Wednesday as investors parsed earnings reports and comments from Federal Reserve officials.
S&P 500 and Nasdaq extend gains as U.S. Treasury yields retreat on Fed’s rate hike stance.
Relentless selling of U.S. government bonds has brought Treasury yields to their highest level in more than a decade and a half.
Tesla joined General Motors and Ford in being cautious about expanding electric vehicle production capacity.
Record debts, high interest rates, the costs of climate change, health and pension spending and fractious politics are stoking fears of a financial market crisis.