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US stocks wobble, hover near record highs on cautious optimism

The minutes are from a Fed meeting that came before last week’s March jobs report, which showed a surprisingly strong 916,000 positions were added in the US that month, the most since August, and the unemployment rate fell to 6 per cent from 6.2 per cent.

The broader market has been mostly subdued since the S&P 500 reached another record high on Monday. Stocks within the index are just about evenly split between gainers and losers.

Analysts expect the recovery to continue, but they also expect the market remain choppy as investors shift money to companies and industries that stand to benefit as the pandemic eases.

Carnival, which essentially shut down during the pandemic, rose 2.8 per cent. The cruise operator said bookings have picked up. Other cruise line operators also gained ground as they plan to restart operations.

In Europe, France’s CAC 40 fell less than 0.1 per cent, Germany’s DAX fell 0.2 per cent, and Britain’s FTSE rose 0.9 per cent. Markets in Asia were mixed.

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