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U.S. STOCKS MIXED; NASDAQ'S 6-DAY WIN STREAK AT RISK
The main U.S. indexes are mixed with just modest changes early on Tuesday as investors monitor trade talks and a voting marathon in Washington over President Donald Trump's tax and spending bill.
Meanwhile, financial market bets rose that the Federal Reserve could start interest-rate cuts as soon as this month after Fed Chair Jerome Powell, asked if July was too soon to consider rate cuts, said he "can't say" but that the decision would depend on the economic data.
The latest data, which was released at 10:00 a.m. EDT had May construction spending coming in at -0.3% vs a -0.2% estimate. The June ISM manufacturing PMI came in at 49 vs a 48.8 estimate, while prices paid was 69.7 vs a 69 Reuters Poll.
May JOLTS job openings were 7.769 million vs a 7.3 million estimate.
Of note, the Nasdaq composite .IXIC is attempting to rise for a seventh straight session. The tech-laden index last rose more than six straight days with an eight session win streak in August 2024.
Here is a snapshot of where markets stood around 10:13 a.m. EDT:
(Terence Gabriel)
EARLIER ON LIVE MARKETS:
THE DRONE AGE DAWNS WITH THE PENTAGON'S RISING INVESTMENT CLICK HERE
TARIFFS, TENSION, AND TACTICAL TWEAKS: RBC REVISES US SECTOR SCRIPT CLICK HERE
JOBS DATA LIKELY HOLDS THE KEY TO FED'S JULY RATE CUT DOOR CLICK HERE
AT THE HALFWAY MARK, MOMENTUM IS THE FRONTRUNNER CLICK HERE
WHAT GOLDMAN THINKS HAPPENS IF THE FED EASES MORE QUICKLY CLICK HERE
MAKING WALL STREET GREAT AGAIN CLICK HERE
GOOD YEAR FOR EUROPEAN STOCKS, BUT NOT FOR FUND MANAGERS CLICK HERE
SLEEPY EUROPE CLICK HERE
EUROPE BEFORE THE BELL: NO RECORDS HERE CLICK HERE
MORNING BID: UNCERTAINTY DOMINATES ECB FORUM CLICK HERE