Stocks Steady After Sharp Selloff As Investors Reassess Rate Cut Hopes
• Wall Street stocks held firmer after large drops the previous day, with the S&P 500 up slightly and the Dow Jones down slightly
• A sharp drop for Intel weighed on the Dow, while gains for GE Aerospace and Cal-Maine Foods lifted the S&P 500
• Investor worries are rising that a resilient U.S. economy could prevent the Fed from cutting interest rates as much as hoped
• Encouraging signs of cooling inflation and economic growth calmed concerns following a strong private sector jobs report
• Treasury yields fell, while Asian and European markets were mixed as traders reduce expectations for Fed rate cuts this year