Wall St opens lower on labor costs data; Fed decision on tap

By Thomson Reuters Apr 30, 2024 | 8:37 AM

(Reuters) – Wall Street’s main indexes opened lower on Tuesday after stronger-than-expected labor costs signaled persistent inflationary pressures, while caution prevailed ahead of the Federal Reserve’s interest rate decision.

The Dow Jones Industrial Average fell 48.7 points, or 0.13%, at the open to 38,337.4. The S&P 500 fell 12.4 points, or 0.24%, at the open to 5,103.78‚Äč, while the Nasdaq Composite dropped 62.2 points, or 0.39%, to 15,920.886 at the opening bell.

(Reporting by Shristi Achar A in Bengaluru; Editing by Devika Syamnath)