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SNAPSHOT S&P 500, Nasdaq rise as economic data eases rate hike worries

2023-04-04T15:29:27Z

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 30, 2023. REUTERS/Brendan McDermid

The S&P 500 and the Nasdaq gained on Tuesday as a higher-than-expected fall in U.S. job openings and factory orders during the month of February supported hopes that the Federal Reserve may go easy on future interest rate hikes.

According to the Labor Department, job openings fell to 9.9 million in February against economists’ projections of 10.4 million.

Further, factory orders decreased 0.7% in February, higher than economists’ projections of a 0.5% decrease.

At 10:07 a.m. ET, the Dow Jones Industrial Average (.DJI) was down 31.04 points, or 0.09%, at 33,570.11, the S&P 500 (.SPX) was up 2.75 points, or 0.07%, at 4,127.26, and the Nasdaq Composite (.IXIC) was up 16.54 points, or 0.14%, at 12,205.99.

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