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More good news on the jobs front helped keep Wall Street (mostly) in positive territory on Thursday. The benchmark S&P 500 ticked up 4 points to 4,200, the Dow gained 141.
Provided by Dow Jones
By Anna Hirtenstein and Paul Vigna U.S. stocks jumped in afternoon trading Thursday as investors cheered encouraging data on the economy, a strong batch of corporate earnings and the prospect of as much as $1.8 trillion in new government spending. The Dow Jones Industrial Average gained 0.7%, and the S&P 500 added 0.6%. The Nasdaq Composite climbed 0.2%. Those gains would put the S&P 500 at a fresh record. Stocks rose early, but then fell into the red as bond yields jumped, repeating the recent pattern of intraday swings. Such volatility isn t unusual given the market s current state, said Katerina Simonetti, senior vice president at Morgan Stanley Private Wealth Management.
by Tyler Durden
Wednesday, Mar 03, 2021 - 08:01 AM
Once again market sentiment has reversed violently - or rather the opposite - overnight, with yesterday s late day spoo slump inspired by the short squeeze in Rocket Mortgage - which forced hedge funds to liquidate their best positions - being faded and on Wednesday Emini futures jumped 0.6%, global shares gained with European indexes echoed positive moves in Asia, as a recent retreat in Treasury yields fuelled demand for riskier assets. even though the 10Y has rebounded 5bps to 1.45% overnight as focus again turned back to the stimulus-fueled recovery from the pandemic. The MSCI world equity index gained 0.4% while oil halted its longest losing streak since December.