On Wednesday, September 4th, the U.S. closed mixed as labor market data and Fed comments suggested a potential rate cut. Job openings in July dropped to a 3.5-year low, signaling a cooling labor market that could bolster the Fed’s case for a rate cut at its upcoming meeting. The S&P 500 and Nasdaq slipped, while the Dow posted a modest gain.
Economic data revealed the U.S. trade deficit expanded to $78.8 billion in July, the largest since June 2022, rising from $73 billion in June. Meanwhile, job openings fell to 7.673 million in July, down from a revised 7.91 million in June, according to the latest JOLTs report.
Most S&P 500 sectors closed lower, led by losses in energy, tech, and materials, while utilities and consumer staples outperformed ...
