Market Snapshot: Stock market slips into red weighed down by bank, energy sectors

Editor’s note: Chicago-area economic activity rose to a 2½ year high in May. MNI Indicator earlier released an incorrect report on Chicago-area economic activity, representing a fall in May. The Chicago business barometer, or Chicago PMI, rose to 59.4 in May from 58.3.

U.S. stock-index gauges on Wednesday traded lower, albeit off their worst levels, on the last day of the month, as a slump in bank shares and a mixed reading of economic reports weighed on investor sentiment.

Wall Street also was awaiting the Federal Reserve’s anecdotal report on economic conditions at its districts, known as the Beige Book.

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