Home Economy US STOCKS-Wall St treads water ahead of key economic data; AMC soars

US STOCKS-Wall St treads water ahead of key economic data; AMC soars

5

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.)

* AMC doubles, leads latest surge of “meme stocks”

* Energy tops S&P sectors; materials slump

* Labor market reports due later in week

* Dow up 0.06%, S&P up 0.02%, Nasdaq down 0.23% (Updates with U.S. afternoon trading)

By Lewis Krauskopf, Medha Singh and Shashank Nayar

June 2 (Reuters) – The S&P 500 was little changed on Wednesday ahead of key U.S. economic data due later in the week as investors weighed inflation concerns and a fresh surge in so-called “meme stocks.”

The S&P 500 energy sector, the best-performing group this year, extended its rise this week, gaining 1.7% as oil prices pushed higher. The materials sector fell 0.9% while a 3.7% fall in Tesla Inc shares dragged on the S&P and helped push the Nasdaq Composite lower.

A weekly unemployment report and May private payrolls data on Thursday will be followed by monthly jobs numbers on…

Click here for full article…www.reuters.com