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US Stocks Advance as Traders Weigh Mixed Reports: Markets Wrap

  • OPEC+ agrees to oil production hikes in coming months
  • Latest US economic data fuels concerns over Fed hikes
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BlackRock's Fink Sees Inflation Lasting for YearsSource: Bloomberg
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US stocks snapped a two-day slide to rally ahead of Friday’s nonfarm payroll report, as traders expect to see cooler labor demand, which could alleviate some inflation concerns.

The S&P 500 rose 1.8%, led by gains in consumer discretionary, while the tech-heavy Nasdaq 100 added 2.8%. Microsoft Corp. erased earlier losses that came after it pared its outlook on the impact from a strong dollar. Treasuries were steady, with US 10-year yields reaching 2.91%.