The US stock market closed in the red, although at the beginning of yesterday the trading session began with growth. The value of the Dow Jones Industrial Average fell by 0.54% to 32,813.23 points. The Standard & Poor's 500 dropped 0.75% to 4101.23 points. The Nasdaq Composite index lost 0.72% to 11,994.46 points. Surprisingly, the negative factor this time was the strong statistics on manufacturing activity in the country, because, according to experts, it increased the likelihood of a more aggressive tightening of the Fed's monetary policy. In particular, the index of business activity in the US manufacturing sector in May increased to 56.1 points from April's 55.4 points. Analysts on average expected it to decline to 54.5 points. Tomorrow we should pay attention to the statistics on the American labor market. It is expected that unemployment will decrease in May to 3.5% (from 3.6% in April), and the number of jobs will grow by 325 thousand (after an increase of 406 thousand in April). Analysts note: «There is some irony in the fact that the pressure on the US stock market may increase if the statistical data indicate the continued active growth of the US economy and raise the yield of government bonds to the highs of the current cycle.» In addition, on June 1, the Fed began reducing the amount of assets on its balance sheet, which reached $ 9 trillion.
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