homevideos Newsmarket NewsGlobal signal: Rally on Wall Street resumes but with no obvious big catalyst
Global signal: Rally on Wall Street resumes but with no obvious big catalyst
The stock market shook off a wobbly start and ended broadly higher Thursday, marking its first gain in this holiday-shortened week. Traders look at U.S. jobs data later in the day for clues as to how far and fast the Federal Reserve might raise interest rates.
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 rally in equities resumed, but there was no obvious catalyst per se.
The US dollar fell across the board, ceding ground gained in recent sessions as firmer risk sentiment prompted investors to reach for higher-yielding currencies.
Traders eye US jobs data due to be released later in the day for clues as to how far and fast the Federal Reserve might raise interest rates.
The S&P 500 closed higher and has risen 7.1 percent since coming to the edge of a bear market two weeks ago. The Dow Jones Industrial Average and the Nasdaq also rose.
How indices fared on Thursday:
The S&P 500 rose 75.59 points, or 1.8 percent, to 4,176.82.
The Dow Jones Industrial Average rose 435.05 points, or 1.3 percent, to 33,248.28.
The Nasdaq rose 322.44 points, or 2.7 percent, to 12,316.90.
The Russell 2000 index of smaller companies rose 42.85 points, or 2.3 percent, to 1,897.67.
Watch the accompanying video of CNBC-TV18’s Prashant Nair for more details.
-With agency inputs
First Published: Jun 3, 2022 8:28 AM IST
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