Wall Street Braces for Jobs Jolt as Stocks Churn: Markets Wrap
- Fed minutes show officials were eager to slow policy easing
- Waller supports more rate cuts, says inflation moving lower
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Stock traders refrained from making big bets, with the market set to close on the eve of Friday’s jobs report. Treasuries rebounded as a solid $22 billion sale brought a degree of relief after the recent selloff.
Equities swung between small gains and losses throughout the session, with the S&P 500 reclaiming the 5,900 psychological mark after briefly falling below it. The options market is betting the gauge will move roughly 1.2% in either direction after the upcoming US employment data, according to Citigroup Inc. That would be the biggest implied move on a jobs day since September.