Stocks Post Month’s Best Day as Rate Surge Fades: Markets Wrap
- S&P 500 snaps two days of losses, Nasdaq 100 outperforms
- Treasuries gain; crude oil extends losses in thin trading
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US stocks rose in a broad-based rally and Treasury yields fell as data allayed fears of a supercharged jobs market that would support a more aggressive policy path. A gauge of the dollar fell.
The S&P 500 notched their biggest one-day gain this month, albeit in thin holiday trading, to claw back all of the losses suffered in the previous two days. The tech-heavy Nasdaq 100 outperformed, with Tesla Inc. climbing more than 8% and tech giants including Apple Inc. Amazon.com Inc. and Microsoft Corp. also among the biggest gainers. Asian technology stocks rose earlier amid signs China is easing a regulatory crackdown.