At lunchtime, US markets were higher after a data suggesting a slowdown in private sector hiring alleviated concerns that a healthy job market would encourage the Fed to continue raising interest rates to combat inflation. The Dow, S&P 500, and Nasdaq all increased.
Tesla (TSLA) shares rose after the electric vehicle manufacturer unveiled a new, lower-priced version of its most popular vehicle, the Model Y.
After falling on the first day of trade, shares of Veralto (VLTO), a supplier of environmental and applied solutions, rebounded and closed higher.
Shares of Royal Caribbean Cruises Ltd. (RCL) and other cruise companies recovered a day after they plummeted when Morgan Stanley cut their price estimates, citing increasing fuel costs and a possible slowdown in vacation demand.
Oil futures fell on concerns over demand, dragging down energy firm equities, with Phillips 66 (PSX) topping losses on the S&P 500.
Insulet (PODD) shares dipped after the developer of insulin pumps announced the departure of CFO Wayde McMillon and confirmed its full-year outlook. Dexcom (DXCM) shares have also fallen.
Gold and other precious metals prices have fallen. The 10-year Treasury note yield has fallen from 16-year highs. The US dollar has lost ground versus the euro, British pound, and Japanese yen. The trading of major cryptocurrencies was erratic.
