FX.co ★ US Stocks Close Mixed on Wednesday

On Wednesday, U.S. stocks presented a mixed performance as investors evaluated varied economic indicators alongside the anticipation of potential Federal Reserve policy easing. The S&P 500 decreased by 0.2%, while the Dow Jones retreated 0.8% from its recent record peaks. Conversely, the Nasdaq 100 saw a modest increase of 0.1%. Economic reports revealed a significant drop in job openings as per the JOLTS data, suggesting a cooling in labor demand. In contrast, ADP disclosed a slight recovery in private sector hiring, and the ISM Services PMI exceeded expectations, indicating a slowing but enduring economy. Stock performance varied, with JPMorgan Chase and Bank of America each declining more than 2%, exerting downward pressure on the Dow amid a widespread downturn in banking stocks. Meanwhile, tech giants NVIDIA and Alphabet rose by 1% and 2.5%, respectively, bolstering the technology-centric Nasdaq. Within the energy sector, Valero and Marathon Petroleum experienced gains following reports of renewed Venezuelan crude supplies potentially benefiting Gulf Coast refineries. However, Chevron underperformed due to weakening crude oil prices.