How major US stock indexes fared Wednesday, 7/3/2024

Wall Street’s record-breaking rally kept going after weak reports on the economy kept the door open for possible cuts to interest rates. The S&P 500 rose 0.5% Wednesday to set an all-time high for the 33rd time this year. The Dow Jones Industrial Average slipped 0.1%, and the Nasdaq composite rose 0.9% to push its own record higher. Treasury yields slid following weaker-than-expected reports on both the job market and U.S. services companies, which make up the bulk of businesses. The data bolstered bets for the Federal Reserve to cut its main interest rate as soon as September.