The Dow Jones closed 0.07% at 34,600.38 points. Its all-time high was reached on May 10, when it reached 35,091.56 points.
The Standard & Poor’s 500 Index rose 0.14% to 4,208.12 points. Recall, on May 7, he set a record of 4238.04 points.
The tech Nasdaq Composite also rose 0.14% to close at 13,756.33 points.
Thus, trading on Wall Street showed moderate fluctuations in the main indices at a time when investors await new labor market data in order to receive more signals about the evolution of the economy.
In April, there was an unexpected slowdown in job growth.
May private sector unemployment data are due tomorrow, and the US Labor Department is to publish monthly private and public sector data on Friday.
The Fed’s Beige Book was released at 19:00 in Lisbon, which presents the most recent assessments of the US economy, highlighting price increases (which heighten investor fears of continued inflation) and labor shortages in the face of increased demand for new hires companies.
The overall conclusion of the Beige Book, which covers the period from early April to late May, is that prices are rising and companies are struggling to recruit, but the economy continues to recover.
Accelerating vaccination programs, along with less constraints in terms of social distance, allowed the economy to grow faster during this period. But that doesn’t mean everyone is smiling, warns the Fed, quoted by CNN. Indeed, shortages of labor and materials (such as microprocessors) have affected some industries such as manufacturing and housing.
And while the likelihood of a recession in the next 12 months is only 10 percent, there is a high probability (75%) that stocks will fall 10 percent in the near future, according to Joe Durand, director of personal finance at Goldman Sachs. …
Despite these warnings and warnings, which led to the decline in the Nasdaq and the Dow in the final stretch of the session, optimism about the economic recovery was stronger, and the indexes regained their breath in the last minutes of the journey.
