• Dow Jones struggled to make gains on Tuesday, underperforming other indexes.
• Fedspeak is cautiously tilting towards rate cuts, but more progress remains.
• Key US data looms ahead this week with Friday’s NFP over the horizon.

The Dow Jones Industrial Average (DJIA) churned close to flat on Monday, despite an overall uptick in investor risk appetite after Federal Reserve (Fed) officials gave a head-nod to easing inflation pressure in US economic data. 

US JOLTS Jobs Openings in May ticked up slightly to 8.14 million MoM, easing above the forecast hold near 7.91 million. A slight uptick in available jobs helps to ease tightness in the labor market, giving risk appetite a leg up as softening labor figures will help to bolster rate cut odds from the Federal Reserve (Fed).

Fedspeak has shifted to the optimistic side on the inflation outlook, helping to further prop up broad-market sentiment as markets grind towards key economic figures slated for the rest of the week. Friday’s US Nonfarm Payrolls (NFP) looms large over the horizon, with ADP Employment Change figures slated for Wednesday