US stocks dipped lower on Tuesday as new labor data came in hotter than expected while investors await the Federal Reserve's upcoming interest rate decision, along with earnings from Amazon . The S&P 500 and tech-heavy Nasdaq Composite each slipped roughly 0.2% after closing with small gains. The Dow Jones Industrial Average fell about 0.6% while the yield on the 10-year Treasury jumped about 4 basis points to trade near 4.66%.
Stocks are on track to post their worst month of 2024, as a brutal mid-April stretch means the major indexes are set to end the month with losses. But investors are looking to continue making headway on a rebound that has pervaded over the last week. Thus far, anticipation over the Fed's next move is battling for attention with better-than-expected quarterly results, with surprises from the likes of Paramount and Tesla playing their part.
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