The S&P 500 edged to a new record close on Tuesday, and the Nasdaq 100 gained 0.4%, building on Monday's record finish. Meanwhile, the Dow slipped 76 points as investors awaited fresh market catalysts.
Investors digested stronger-than-expected October JOLTS data, with job openings rising by 372,000 to 7.74 million, while the quits rate increased to 2.1%, signaling worker confidence. Markets now see a 74% chance of a Fed rate cut on December 18, up from 62% a day earlier.
In corporate news, US Steel Corporation shares fell 8% after President-elect Donald Trump pledged to block its $15 billion takeover by Nippon Steel, citing plans for tax incentives and tariffs to support the company. Tesla shares dropped 1.6% after a Delaware judge rejected Elon Musk's $56 billion pay package for a second time.
The decline was further fueled by reports of falling shipments for Tesla's China-built models. AT&T rose 4.7% on cash flow forecasts, while Salesforce gained 0.4% ahead of earnings.
Source : Trading Economics
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