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Stock market today: US stocks set to snap 5-month win streak with Fed, Amazon in focus

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Amazon,Federal Reserve,Bureau Of Labor Statistics

Investors marked time ahead of the Fed's rate decision, with earnings from Amazon on deck to test prospects for a Big Tech-fueled bump.

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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