Wall Street Continues The Bullish Streak And Recovers Two Months!
Leading indicators rose on Thursday but continued to falter amid some pessimism about economic growth and rising interest rates.
Wall Street closed sharply higher on Thursday led by Tesla, Nvidia and other growth stocks in a choppy session ahead of a jobs report being released on Friday.
The stock market shook off a wobbly start and ended broadly higher on Thursday, marking its first gain in this holiday-shortened week. Technology stocks benefited the most as Microsoft erased an early loss.
Trading has been choppy in recent days as investors remain concerned about inflation and the interest rate hikes the Federal Reserve is applying to combat it.
The S&P 500 rose 1.8%. The benchmark index has risen 7.1% since reaching the brink of a bear market two weeks ago. The Dow Jones Industrial Average rose 1.3% and the Nasdaq 2.7%. The 10-year Treasury yield fell to 2.91%.
The US stock market has staged a modest recovery in recent sessions, with investors debating whether the worst of the slump that has dominated Wall Street in 2022 may be over.
“Volatility has become the norm, not the exception. Stocks are being held hostage to inflation, and until that is brought under control, volatility is likely to remain high,” said Terry Sandven, chief equity strategist at US Bank Wealth Management.
The S&P 500 is down 13% from its all-time high in early January.
US private payrolls rose much less than expected in May, suggesting demand for labor is starting to slow amid rising interest rates and tightening financial conditions, the report said. national ADP employment.
All eyes are now on the government’s Non-Farm Payrolls data, due for release on Friday.
Investors are looking for new signs of the health of the US economy and how aggressively the Federal Reserve could continue to raise interest rates. Analysts expect the economy to have added 325,000 jobs last month.
Trading has been choppy in recent days, as investors remain concerned about inflation and the interest rate hikes that the Federal Reserve is applying to combat it.
< p class=”paragraph”>The S&P 500 rose 1.8%. The benchmark index has risen 7.1% since reaching the brink of a bear market two weeks ago. The Dow Jones Industrial Average rose 1.3% and the Nasdaq 2.7 percent. The 10-year Treasury yield fell to 2.91%.
The US stock market has staged a modest recovery in recent sessions, with investors debating whether the worst of the slump that has dominated Wall Street in 2022 may be over.
“Volatility has become the norm, not the exception. Stocks are being held hostage to inflation, and until it is brought under control, volatility is likely to remain high,” warned Terry Sandven, chief equity strategist for U.S. Bank Wealth Management.
The S&P 500 is down 13% from its all-time high in early January.
US private payrolls rose much less than expected in May, suggesting demand for labor is starting to slow amid rising interest rates and tighter financial conditions, according to ADP’s national jobs report.
All eyes are now on the government’s nonfarm payroll data, which will be published on Friday.
Investors are looking for new signs of the health of the US economy and how aggressively the Federal Reserve could continue to raise interest rates. Analysts expect the economy to have added 325,000 jobs last month.
