US Stocks Waver after Payrolls Revision
On Tuesday, U.S. stocks experienced volatility, with the primary indices remaining close to unchanged. Traders were processing a significant downward adjustment to payroll data, which revealed that the economy added 911,000 fewer jobs for the year ending in March 2025 than previously estimated. This revision indicates that the labor market has been cooling longer than anticipated, compounding last month's slowdown. The revised data has intensified expectations for an interest rate cut by the Federal Reserve next week, but it also raised concerns about a more severe labor market deterioration, which, when combined with persistent inflation, could present substantial economic challenges. Inflation reports are set to take center stage this week, with the Consumer Price Index (CPI) and the Producer Price Index (PPI) scheduled for release. The energy sector recorded the highest gains, whereas the materials sector trailed. Among major technology companies, Meta gained 1.3%, and Alphabet increased by 1.1%, while Apple declined by 0.7% ahead of its flagship product launch event.
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