Wall Street stocks end slightly higher as weak jobs data supports rate cut

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Us Stocks News

Wall Street

NEW YORK, June 5 ― US stocks ended a shade higher yesterday following softer-than-expected labour market data that reaffirmed expectations of an interest rate cut by the...

Shafee foresees 1MDB trial to keep going until 2026 if court calls for Najib to enter defence, due to ‘distractions’The Dow Jones Industrial Average rose 140.26 points, or 0.36 per cent, to 38,711.29, the S&P 500 gained 7.94 points, or 0.15 per cent, to 5,291.34 and the Nasdaq Composite gained 28.38 points, or 0.17 per cent, to 16,857.05.

“What we've seen in the data so far this week is that it's been relatively weak, starting with manufacturing PMI and job openings today,” said James St. Aubin, chief investment officer at Sierra Mutual Funds in Santa Monica, California. Megacap technology stocks, including Amazon.com, Alphabet, Nvidia and Microsoft, ended higher after losing ground early in the session.

Paramount Global fell 4.4 per cent after the media conglomerate said it was exploring strategic options or a joint venture for its Paramount+ streaming service.

 

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