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Stock market today: Stocks slip as US economy starts to show cracks

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Investors are weighing signs the surprising resilience in the US economy might be starting to show cracks.

US stocks fell on Tuesday as investors weighed signs the surprising resilience in the US economy might be starting to show cracks. The S&P 500 slipped 0.4% while the tech-heavy Nasdaq Composite dropped 0.3% after both indexes closed higher in the prior session during a bumpy day. The Dow Jones Industrial Average hovered just below the flatline. Stocks have struggled to find a footing as investors face a dilemma over the path of interest rates.

New data from the Bureau of Labor Statistics released Tuesday showed 8.05 million openings at the end of April, a decrease from the 8.35 million open jobs in March. The labor market update serves as a precursor to the crucial May jobs report on Friday — the data highlight of the week. Read more: How does the labor market affect inflation? Meanwhile, the GameStop rally — just one part of the jumpy summer start for stocks — lost steam on Tuesday, on the heels of a 21% surge for the meme darling.

 

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