Shares of industrial and transportation companies rose slightly amid promising signs about economic growth, but gains were limited by fears about interest rates.
"The bottom line is that the stronger-than-expected May employment report remains consistent with our monetary policy outlook for staying on hold," said economists at brokerage Bank of America Global Research.
"We expect the Fed to stay on hold for now and start a gradual cutting cycle in December which will depend on a moderation in the inflation data. The economy may be cooling, but it is not cool."
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
06-07-24 1724ET
