Five Things You Need to Know to Start Your Day: Asia
The New York Stock Exchange (NYSE) in New York, US, on Monday, Aug. 5, 2024.
Photographer: Michael Nagle/BloombergGood morning. US stocks are bouncing back. The world’s biggest active bond manager sees a bumpy road ahead. And Apple’s planning a new Mac mini. Here’s what’s moving markets. — Sebastian Boyd
US stocks had their best day since 2022. Equities staged a solid rebound and bonds fell after the latest US labor-market reading helped ease fears about a more pronounced slowdown in the world’s largest economy. All major groups in the S&P 500 advanced, as data showed US initial jobless claims tumbled the most in nearly a year. As economic angst subsided, Treasuries dropped across the curve — with the selloff led by shorter maturities.