Stocks were mostly higher on Wednesday as investors eye trade and the June jobs report.
The Dow Jones Industrial Average
closed down 10.52 points, or 0.02%, while the S&P 500 and Nasdaq Composite gained 0.47% and 0.94%, respectively. The S&P 500 hit a new record high.
President Donald Trump announced a trade deal with Vietnam on Wednesday in advance of the deadline, which would leave tariffs on Vietnamese goods at 20%, down from the 46% in Trump’s “Liberation Day” announcement, which was the highest rate applied to significant U.S. trading partners due to Vietnam’s export-heavy economy.
Investors are also watching the Labor Department’s nonfarm payrolls report, which is due on Friday morning. The government data is expected to show an increase of 110,000 positions, below the 139,000 reported in May.
The data comes on the heels of the ADP’s private payrolls data,
released on Wednesday morning, which showed companies in the private sector unexpectedly lost 33,000 jobs in June. Economists forecast a gain of 95,000 jobs.
The ADP report and government’s data can differ notably.
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