Stock market today: Wall Street drifts, yields jump and Paris stocks soar as elections drive markets

📆 2-7-2024 01:08:00
📰 latimes

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U.S. stocks drifted to a mixed close, and yields jumped as elections drive swings in financial markets worldwide

U.S. stocks drifted to a mixed finish Monday, and yields jumped in the bond market as elections continue to drive swings in financial markets worldwide. The S&P 500 rose 0.3% to kick off a shortened, four-day week that includes the Fourth of July holiday. The Dow Jones Industrial Average edged up by 50 points, or 0.1%, and the Nasdaq composite gained 0.8%. Some of the world’s strongest action was across the Atlantic, where the CAC 40 index in Paris jumped as much as 2.

Perhaps even more importantly for Wall Street, the report from the Institute for Supply Management also said price increases are decelerating. Taken together, the data could offer more of the evidence that the Federal Reserve wants to see of lessening pressure on inflation before it will cut rates. This week’s economic highlight will likely arrive Friday, when the U.S. government will say how many workers employers hired during June.

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