"U.S. stocks are coasting toward the finish of Wall Street's latest winning month on Tuesday. The S&P 500 fell 0.2% in afternoon trading but remains on track for a fifth straight winning month after setting a record last week. The Dow Jones Industrial Average was down 145 points, or 0.3%, as of 1:43 p.m. Eastern time, and the Nasdaq composite was 0.3% lower."
"Oil-related companies weighed on the market after the price of crude fell again as traders see too much oil washing around the world. Schlumberger fell 3.8%, and Halliburton dropped 3%. They helped offset a 12.7% jump for CoreWeave, which said Meta Platforms will pay up to $14.2 billion for a new order for cloud computing power made under its existing service agreement, with the potential for more."
"Treasury yields eased in the bond market following a couple mixed reports on the U.S. economy. One said consumers are feeling less confident than economists expected, with many respondents in the Conference Board's survey pointing to the slowing job market and inflation that has remained higher than anyone would like. A second report suggested the job market may be remaining in its "low- hire, low-fire" state."
U.S. stocks are closing in on a fifth straight monthly gain even as the S&P 500 slipped 0.2% in afternoon trading. The Dow fell about 145 points and the Nasdaq was roughly 0.3% lower. Oil-related companies declined after crude prices dropped, with Schlumberger down 3.8% and Halliburton down 3%, while CoreWeave surged 12.7% on a potential up-to-$14.2 billion Meta Platforms cloud-computing order. Treasury yields eased after mixed economic reports showed weaker consumer confidence and roughly unchanged job openings in August. Market expectations for additional Federal Reserve rate cuts have supported stocks, but either too-strong or too-weak jobs data could derail those expectations and harm equities.
Read at Fast Company
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