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Wall Street Slips as Investors Eye Jobs Data and Venezuela Oil Deal

U.S. stocks edged lower on Wednesday as investors paused to assess fresh labor‑market signals and the political implications of a new U.S.–Venezuela oil agreement. The Dow, S&P 500, and Nasdaq all dipped slightly in early trading, easing back from recent highs. The pullback comes as traders await upcoming jobs data that could influence expectations for the Federal Reserve’s next moves. Signs of a cooling labor market have raised questions about how quickly policymakers may adjust interest rates in the months ahead. Market attention also turned to President Trump’s newly announced oil deal with Venezuela, which includes a plan for the U.S. to receive tens of millions of barrels of crude under a tightly controlled arrangement. The agreement has added a fresh geopolitical layer to energy markets, contributing to a modest decline in oil prices as traders evaluate how the additional supply might affect global dynamics. Despite the softer tone, equities remain near record levels, sup...
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European Stocks Surge and Bond Yields Ease as Markets Scale Back Bets on Rate Cuts

 

European stocks surged to a fresh two-year high, and bond yields eased as markets scaled back ambitious bets at the end of 2023 on rate cuts by the Federal Reserve and other major central banks. The S&P 500 also edged higher, with the index poised to set a new record closing high, at the start of a week packed with big corporate earnings, European inflation data, Federal Reserve and Bank of England meetings and U.S. employment data.

The market is trying to understand the outlook for the U.S. economy as it is unlikely to require the deep interest rate cuts by the Fed it has priced in. Absent geopolitical shocks, the U.S. economy will grow better than expected with just a few areas underperforming.

The surge in European stocks and the easing of bond yields can be attributed to the markets scaling back their bets on rate cuts by the Federal Reserve and other major central banks.



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