Stocks rose slightly on Wednesday with the S&P 500 hovering near an all-time high. The Dow was up 0.07%. The S&P 500 moved up 0.15%. The Nasdaq rose 0.14%.
on Tuesday. Sales grew 191% in the first quarter. Tesla and Microsoft also closed lower.
Markets may be on hold before the big jobs report on Friday. The U.S. likely added 671,000 nonfarm payrolls in May, up from 266,000 jobs added in the previous month, according to economists polled by Dow Jones. Inflation fears, and the ways in which the Federal Reserve might respond, have weighed on sentiment recently, although the major averages are still hovering around all-time highs.
"Inflation expectations have also increased beyond what may be achievable in the near term. Inflation is on the upswing in our view and will eventually surpass the Fed's targets on a sustainable basis," Morgan Stanley chief U.S. equity strategist Mike Wilson told clients. "However, expectations have increased too and now price this rise in many asset markets."
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