Stocks Inch Lower as Manufacturing Data Weighs: Markets Wrap
- Factory activity gage shows continued rebound, job constraints
- Oil climbs on forecast of tighter market; Treasury yields rise
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U.S. stocks inched lower as investors assessed the impact of another economic report on Federal Reserve monetary policy.
The S&P 500 fluctuated between gains and losses after U.S. manufacturing data topped estimates while also showing some weakness in employment figures. A measure of factory activity in May rose on stronger order growth. However, manufacturers are struggling because of supply shortages and labor constraints.