S&P 500 Rally Wavers as Buyer Fatigue Kicks In: Markets Wrap

Wall Street’s epic rebound from April’s meltdown is showing signs of exhaustion on speculation stocks have run too fast amid risks stemming from a trade war to an economic slowdown and sticky inflation.

After a 22% jump from last month’s intraday lows, the S&P 500 edged up just 0.1%. Most sectors fell, but big tech climbed. Boeing Co. gained on its largest-ever deal, with Qatar Airways placing an order for long-range jets during a visit to Doha by Donald Trump. The dollar erased losses as Bloomberg News reported the US is not working to include currency policy pledges in trade accords. Bond yields rose as Federal Reserve rate-cut bets receded.