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SP 500 Slips but Closes near Record Level

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NEW YORK, April 6 Reuters The SP 500 slipped on Tuesday but stayed near closing record highs posted in consecutive sessions, as investors weighed more strong U.S. economic data against nervousness about upcoming quarterly earnings reports.

U.S. job openings rose in February to a twoyear high while hiring picked up. The data came on the heels of Fridays strong payrolls report and a report on Monday showing activity in the service sector climbed to a record high in March.

The International Monetary Fund raised its global growth forecast to 6 this year from 5.5, a rate not seen since the 1970s.

But with an upcoming earnings season expected to show SP profit growth of 24.2 from a year earlier, according to Refintiv data, investors may be waiting to see how strong the results will actually be.

The big unanswered question is how open the economy is right now and how many people are out there, said Stephen Massocca, Senior Vice President at Wedbush Securities in San Francisco.

These security prices are reflecting an anticipation that the economy is going to get back to normal sooner rather than later and it is not exactly clear where we are in that process.

Unofficially, the Dow Jones Industrial Average fell 96.35 points, or 0.29, to 33,430.84, the SP 500 lost 4.09 points, or 0.10, to 4,073.82 and the Nasdaq Composite dropped 7.21 points, or 0.05, to 13,698.38.

Gains on Wall Street were muted, with the Dow slightly lower a day after a rally sent it and the SP 500 to…

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