U.S. stocks remain mix due to valuations and increase in US inventory
S&P 500 1,950.79 -048 -0.02%
DOW JONES 16,945.92 +2.82 +0.02%
NASDAQ 4,338.00 +1.75 +0.04%
- Tuesday U.S. stocks were mixed as analyst predict profit for companies will grow 7.4%, that’s down from a January projection for growth of 9.7 percent.
- Data today showed U.S. wholesale inventories increased 1.1 percent in April, more than the 0.6 percent gain estimated by economists. Indicating demand for sales is decreasing among the consumers since inventory is accumulating.
- According to Bloomberg “A separate report showed job openings rose to 4.5 million in April from 4.17 million in March.” Which indicates a increase in job openings that the economy is expanding.
- Crude-oil futures declined 0.1% to settle at $104.35 a barrel, while gold futures added 0.5% to $1,259.80 an ounce.
- Investors also has been cautions since stocks are at record highs they’re looking to sell rather than buy.
- Overall it has been a quiet day for the market again.