Stocks Stall While Gold, Treasuries Rise; Oil Puts Pressure On Energy Stocks: What's Driving Markets Wednesday?

Benzinga ·  Dec 6, 2023 14:03

Major large-cap stock indices hovered around parity during early afternoon trading in New York, in a rather subdued trading session on Wall Street.

Traders are grappling with mixed sentiments in the wake of weaker-than-expected ADP employment data from the previous month, hinting at a potential cooling in labor market conditions. This uncertainty looms large ahead of Friday's eagerly anticipated jobs report.

The prospect of a softer labor market could indeed fuel expectations of future interest rate cuts by the Federal Reserve, but it also raises concerns about weakening household demand, which could cast a shadow on...

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