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Market session wraps; labor shortages getting more pronounced
Stock market continue to struggle for direction as investors adopt a wait and see attitude while digesting new data provided by The Bureau of Labor Statistics reflecting ongoing shortage on the labor department as the economy undergo recovery.
Even small business showed that they have open positions that needs to be filled, which was reflected on a survey last month showing 48% of small businesses that participated all had positions to fill. Investors are currently laying low due to the signals from different sources about the possible outcome regarding the monetary and fiscal policies, if they will be changed or they will retain the set up for the time being.
The possible impact of such changes made any investor think twice before making large movements, thus traders adopted to waiting else be swept by sudden recon. There's also the statement from Treasury Secretary Janet Yellen last Sunday stating that an increase with the interest rates is beneficial for the society's and Fed's point of view, which adds up to the current worries of investors.
S&P 500 Index was little changed as it inched a bit closer to its record high at 4,227.23. NASDAQ Composite Index gained almost 50 points or about 0.30%, while the Dow Jones Industrial Index observed losses with almost 0.1% drop.
Here's an overview for Tuesday's movements:
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