TheStreet’s Conway Gittens brings the latest business headlines from the floor of the New York Stock Exchange as markets open for trading Wednesday, June 5.
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Full Video Transcript Below:
CONWAY GITTENS: I’m Conway Gittens reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today. The Nasdaq notched another record high, just about a week after breaking its previous record close. Apple shares were a positive force amid optimism ahead of its developers’ conference next week.
The S&P 500 rallied one percent. The Dow was a laggard with a fractional gain. Investors were stuck between hopes and fears on Wednesday. Hopes that a weaker-than-expected private hiring report raises the odds of a September interest rate cut; fears, on the other hand, that a slowing labor market could mean the economy is tipping toward recession. Those fears, however, were capped by data showing the massive services sector returning to expansion in may. Investors now await Friday’s comprehensive jobs report for more clues.
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In other business headlines: Boeing finally made it to space. The Boeing Starliner reached orbit with two astronauts on board. Butch Wilmore and Sunita Williams are heading to the international space station in a test that will ultimately see the spacecraft make routine trips to space. This crewed space flight has been a decade in the making and suffered numerous setbacks along the way.
The Starliner’s first launch, without a crew, was a failure in 2019, then a flight last year with a crew on board had to be aborted due to safety reasons. And just last week another attempt was stopped because of a computer glitch.
When it comes to the space race, Boeing has a lot of catching up to do. Its rival, Elon Musk’s SpaceX, has made numerous successful launches into space.
That’ll do it for your daily briefing. From the New York Stock Exchange, I’m Conway Gittens with TheStreet.
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