Indexes On Wall Street Rest, Job Openings Stay Near 3-year Low In May

Barry Adams
02 Jul, 2024
New York City

Stocks lacked direction in early Tuesday trading, and Treasury yields jumped higher. 

The S&P 500 index and the Nasdaq Composite hovered near the flatline amid a lack of domestic catalysts and valuation worries. 

The number of job openings rose by 221,000 from the previous month to 8.14 million in May, following a downwardly revised 7.9 million in April, the U.S. Bureau of Labor Statistics reported Tuesday. 

The number of job openings is hovering near a three-year low, but openings are still above the pre-pandemic level of 7.2 million, indicating job market conditions are moderating but still tight. 

 

U.S. Indexes and Treasury Yields

The S&P 500 index decreased 0.01% to 5,473.12, and the Nasdaq Composite rose 0.03% to 17,885.52. 

The yield on 2-year Treasury notes edged higher to 4.75%, 10-year Treasury notes increased to 4.43%, and 30-year Treasury bonds edged higher to 4.60%.

WTI crude oil increased $0.58 to $83.94 a barrel, and natural gas prices fell 3 cents to $2.46 a thermal unit.

Gold decreased by $3.21 to $2,328.79 an ounce, and silver rose 32 cents to $29.32. 

The dollar index, which weighs the U.S. currency against a basket of foreign currencies, edged lower to 105.81.

 

U.S. Stock Movers

Tesla jumped 4.8% to $220.01 after the electric vehicle maker reported better-than-expected vehicle sales in the second quartet. 

The company said its worldwide global sales increased to 440,000 units and produced 411,000 units. 

Atlassin Corp. advanced 4.3% to $185.85 after Piper Sandler upgraded its stock ranking to "overweight," and analyst Rob Owen said the current price is attractive for investors to accumulate stock. 

Paramount Global Class B jumped 4% to $10.56 on a CNBC report that the company's streaming division is in merger talks with several potential partners.