NEW YORK (AP) — The U.S. stock market drifted through a mixed day of trading Tuesday after reports on the economy did little to clear uncertainty about where interest rates may be heading.
The S&P 500 slipped 0.2% and remains a bit below its all-time high set last week. The Dow Jones Industrial Average dipped 302 points, or 0.6%, and the Nasdaq composite rose 0.2%.
Treasury yields eased in the bond market after one report said the U.S. unemployment rate was at its worst level since 2021, but employers also added more jobs last month than economists expected. A separate report, meanwhile, said an underlying measure of strength for revenue at U.S. retailers grew more in October than economists expected.
The mixed data meant little change in traders’ hopes that the Federal Reserve may continue to cut interest rates further in 2026. What the Fed does with interest rates is a top driver for financial markets because lower rates can boost the economy and prices for investments, even if they also may worsen inflation.
A report coming on Thursday will show how bad inflation was last month, and economists expect it to show prices for U.S. consumers continue to rise faster than anyone would like.