US Stocks End Session Higher Before Jobs Report: Markets Wrap
- Recent data showed the US economy remained robust last month
- China’s lockdown of Chengdu delivered blow to economic growth
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A surprising late-day reversal took US stocks higher as investors await Friday’s jobs report to gauge how hawkish the Federal Reserve will be. Recent data pointed to a resilient US economy, buoying sentiment later in the day.
The S&P 500 ended its losing streak on Thursday, after falling for most of the session. The Nasdaq 100 finished the day flat. Treasuries slumped amid a selloff that left the two-year yield at the highest in almost 15 years. The dollar surged to a record high on speculation that latest data will force the central bank to raise rates by three-quarters of a percentage point at its meeting later this month.