The S&P 500 was relatively unchanged on Tuesday, while the NASDAQ Composite retreated from its recent highs as investors tried to grasp the state of the U.S. economy.
The Dow Jones Industrials flexed some muscle and gained 82.33 Tuesday noon to 45,597.28.
The much-broader index reversed 1.32 points to 6,493.83.
The tech-heavy index lost 20.05 points to 21,778.57.
The Labor Department updated its jobs figures for the 12 months through March, lowering the total payroll gains during that period by a whopping 911,000.
While the data had minimal impact on stocks Tuesday because its regarding figures from six months ago, the report may reinforce calls for the Federal Reserve to be more aggressive with rate cuts this year.
Wall Street is coming off a winning session. The NASDAQ rose 0.5%, as key chipmakers such as Broadcom and Nvidia helped carry the tech-heavy index to all-time highs.
During Tuesday’s session, Apple shares were marginally lower ahead of an annual event in which the company is expected to unveil a new iPhone.
Additionally, Fox shares dipped 5% after Lachlan Murdoch gained control of the media empire as the Murdoch family settled a dispute over the family trust. Dell Technologies shares also slid 2% after CFO Yvonne McGill resigned, effective Tuesday.
But investors are now awaiting two key inflation reports that could determine what Federal Reserve policymakers will do at their meeting next week. Last week, a surprisingly weak jobs report added to hopes the path for interest rates is lower.
Prices for 10-year Treasury declined Tuesday, raising yields to 4.08% from Monday’s 4.04%. Treasury prices and yields move in opposite directions.
Oil prices jumped 74 cents to $63.00 U.S. a barrel.
Gold prices grabbed $4.10 to $3,681.50 U.S. an ounce.
