FX.co ★ US Stocks Lack Direction

The S&P 500 and Nasdaq experienced fluctuations on Tuesday, while the Dow Jones gained approximately 200 points, building on Monday's momentum when the S&P 500 saw its best quarterly performance of the year. Investors were closely monitoring ongoing trade talks and budget bill deliberations, while also considering comments from Federal Reserve Chair Jerome Powell. Powell noted that the effects of tariffs are expected to emerge in the coming months but mentioned that the majority of Fed officials foresee a potential interest rate cut later this year. In labor market news, job openings unexpectedly climbed to 7.77 million, reaching their highest level since November, indicating continued labor market strength. The ISM Manufacturing PMI revealed that factory activity declined for the fourth straight month. Within sectors, utilities were the worst performers, whereas materials showed strong performance. In corporate developments, Tesla's stock dropped over 3% amid escalating tensions between President Trump and Elon Musk.