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Global stocks were flat while U.S. Treasury yields dipped on Tuesday as markets weighed data showing a continuing tight labor market as well as prospects of interest rate cuts after comments from Federal Reserve Chair Jerome Powell.
The Fed still needs more data before cutting interest rates to ensure recent weaker inflation readings properly reflect underlying price pressures, Powell told a conference in Portugal on Tuesday.
His comments came after Labor Department data on Tuesday showed job openings , a measure of labor demand, rose by 221,000 to 8.140 million on the last day of May, the lowest level since February 2021 and slightly ahead of Wall Street expectations.
The Fed still needs more data before cutting interest rates to ensure recent weaker inflation readings properly reflect underlying price pressures, Powell told a conference in Portugal on Tuesday.
His comments came after Labor Department data on Tuesday showed job openings , a measure of labor demand, rose by 221,000 to 8.140 million on the last day of May, the lowest level since February 2021 and slightly ahead of Wall Street expectations.
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