Stocks Rebound, Treasuries Fall Ahead of Jobs Data: Markets Wrap
- Nasdaq 100 advances as investors rush back into technology
- ISM services activity gauge beats analyst expectations
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Stocks rebounded from Monday’s rout and Treasuries fell as investors assessed the state of the economy before a key payroll report Friday.
The S&P 500 and Nasdaq 100 gained -- led by advances in mega-cap tech names -- while the 10-year yield spiked to 1.53%. Investors are anxiously awaiting the latest labor market data for a signal on the Federal Reserve’s next move. An ISM reading on the U.S. services sector activity came in better than expected Tuesday, likely keeping the Fed on track to announce a pullback in bond-buying.