Dow Jones dips from 42,500 as US Treasury yields rise.
US job openings drop to lowest since January 2021, supporting rate cut bets.
Consumer Confidence jumps to 108.7, the highest since March 2021.
Boeing leads Dow gains, up 2.93% after share sale, while Chevron, Coca-Cola, and Home Depot lag behind, posting notable losses.
The Dow Jones Industrial Average (DJIA) trims off its Monday’s gains, retreats from daily highs at around 42,500, and edges down over 0.25% while US Treasury bond yields cling to gains. US jobs market data augmented the odds that the Federal Reserve (Fed) will cut interest rates at the November meeting, while Consumer Confidence improved sharply.
US bond yields continued to rise, as the 10-year Treasury note yield rose three and a half basis points to 4.32% after the US Department of Labor revealed that job openings in the US tumbled to their lowest level in three and a half years.
US job vacancies slumped to 7.44 million in September from 7.86 million a month before, the fewest job openings since January 2021. At the same time, the Conference Board (CB) showed that Americans grew the most optimistic about the economy, as the index increased from 99.2 to 108.7, its most strongly gain since March 2021.
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