December 5, 2023 – 1:50 PM PST
(Reuters) – Wall Street finished mixed on Tuesday after fresh employment data bolstered bets that the U.S. Federal Reserve will cut interest rates as soon as March.
Advertisement
Wall Street’s most valuable companies rose as Treasury yields dipped to multi-month lows. Nvidia (NVDA.O) and Apple (AAPL.O) rose more than 2%, while Amazon.com (AMZN.O) and Tesla (TSLA.O) gained more than 1%.
Most S&P 500 sector indexes ended down after data showed U.S. job openings dropped in October to the lowest level since early 2021, indicating that the labor market was easing.
“As interest rates rise and as demand slows, companies are pulling back on job openings, which is essentially what the Fed wants,” said Sam Stovall, chief investment strategist at CFRA Research in New York.
“The Fed probably is done raising rates, and the only…
