Stocks market records gain as investors await May jobs report

  • Home
  • Economy
  • Stocks market records gain as investors await May jobs report

Damian J. Troise and Alex Veiga

The stock market shook off a wobbly start and ended broadly higher Thursday, marking its first gain in this holiday-shortened week.

Technology stocks were among the winners as Microsoft erased an early loss.

Trading has been choppy in recent days as investors remain worried about inflation and the interest rate increases the Federal Reserve is using to fight it.

The S&P 500 rose 1.8%. The benchmark index has risen 7.1% since coming to the edge of a bear market two weeks ago. The Dow Jones Industrial Average rose 1.3% and the Nasdaq rose 2.7%. The yield on the 10-year Treasury slipped to 2.91%.

Debt rising:‘I exhausted my savings’: Inflation has Americans turning to loans, credit cards to cope. 

Labor market cooling:Hiring boom likely to slow, starting with May jobs report. But that may be a good thing.

A stock market investor examines charts.

Meta rises after Sandberg news

Communications stocks, companies that rely on direct consumer spending and some big industrial firms gained ground. Facebook parent Meta Platforms rose 5.4%, the day after Chief Operating Officer Sheryl Sandberg announced she is stepping down. Expedia Group added 6.3% and Boeing climbed 7.5%.

Small company stocks rose, signaling confidence about economic growth. The Russell 2000 gained 2.3%.

Source link

Leave A Comment

Chinese (Simplified)EnglishFrenchItalianPortugueseRussianSpanish