U.S Stocks Waver on Labor Market Data and Fed Remarks

U.S. stocks dipped slightly on Wednesday, influenced by labor market data and comments from a Federal Reserve official supporting an interest rate cut. Job openings decreased to a 3.5-year low in July, possibly strengthening the Fed's hand to cut rates. Nvidia's market value and several tech stocks fell, while Tesla shares rose.

U.S. stocks ended Wednesday slightly lower in volatile trading, influenced by labor market data and a Federal Reserve official's comments supporting an interest rate cut. The Labor Department revealed that U.S. job openings in July hit a 3-1/2-year low, potentially aiding the Fed's case to cut rates at its upcoming meeting.

Bill Strazzullo, chief markets strategist at Bell Curve Trading in Boston, stated, 'This is always a rocky period in September but the economy is holding up.' Nvidia shares continued to fall after a significant market value drop on Tuesday, amid a U.S. Department of Justice antitrust investigation.

Other major tech stocks like Apple and Amazon.com also declined, whereas Tesla shares saw an increase. Atlanta Fed President Raphael Bostic warned that maintaining high interest rates might harm employment and suggested that waiting for inflation to reach the 2% goal could cause labor market disruptions.

(With inputs from agencies.)