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Stock market today: US stocks tread water after S&P 500's record close

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Nasdaq Composite Nouvelles

Economic Data,S&P 500,Federal Reserve

Investors looked to fresh economic data for pointers on rate cuts as they got set for the July 4th closure.

US stocks held steady on Wednesday after a record S&P 500 close, with investors eyeing fresh economic data and Federal Reserve minutes for pointers to rate cuts in a holiday-shortened session. The S&P 500 traded flat after the benchmark ended Tuesday above 5,500 for the first time. The tech-heavy Nasdaq Composite was also little changed, while Dow Jones Industrial Average edged up 0.2%.

Traders are pricing in 65% odds of a move lower in September, according to CME's FedWatch tool. Meanwhile, job creation slowed for a third straight month with the US adding just 150,000 new private sector jobs in June, below the 165,000 Wall Street had expected. Pay gains for both job stayers and job changers also slowed. The data comes just ahead of the key June jobs report release on Friday.

 

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