"Wall Street Cautious as Economic Data Worsens Amid Stock Market Uncertainty"

Wall Street's optimism about the US economy is waning as recent data shows cooling activity across various metrics. Economic forecasts have been revised downward, with Goldman Sachs lowering its Q2 GDP estimate and the Atlanta Fed's GDPNow tracker also showing a decline. Manufacturing activity and job growth have weakened, but the stock market remains resilient, with investors anticipating potential Federal Reserve interest rate cuts. The upcoming May jobs report will be crucial in determining the economic outlook.